The influence of institutions on the proportion of social elites on boards of business group IPO firms in emerging economies
The influence of institutions on the proportion of social elites on boards of business group IPO firms in emerging economies
This study examines the differential impact of the quality and structure of institutional environment on proportions of boards comprised of social elites in business group constituents as opposed to unaffiliated firms. Using a unique sample of 136 private sector initial public offering (IPO) firms from 17 emerging African economies we find business group constituents are associated with marginally higher proportions of social elites in board roles. This is positively moderated by common law legal origin - underscoring the importance of elites in monitoring and oversight of market governance - and inversely moderated by institutional quality – reflecting narrow political economies.
Hearn, Bruce
45dccea3-9631-4e5e-914c-385896674dc2
20 July 2016
Hearn, Bruce
45dccea3-9631-4e5e-914c-385896674dc2
Hearn, Bruce
(2016)
The influence of institutions on the proportion of social elites on boards of business group IPO firms in emerging economies.
In Academy of International Business Annual Meeting, New Orleans, USA.
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Conference or Workshop Item
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Abstract
This study examines the differential impact of the quality and structure of institutional environment on proportions of boards comprised of social elites in business group constituents as opposed to unaffiliated firms. Using a unique sample of 136 private sector initial public offering (IPO) firms from 17 emerging African economies we find business group constituents are associated with marginally higher proportions of social elites in board roles. This is positively moderated by common law legal origin - underscoring the importance of elites in monitoring and oversight of market governance - and inversely moderated by institutional quality – reflecting narrow political economies.
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Published date: 20 July 2016
Venue - Dates:
AIB 2016 Annual Meeting, , New Orleans, United States, 2016-06-27 - 2016-06-28
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Local EPrints ID: 423317
URI: http://eprints.soton.ac.uk/id/eprint/423317
PURE UUID: e9e344f8-be0c-42fb-bf71-c058d2ff337d
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Date deposited: 20 Sep 2018 16:30
Last modified: 16 Mar 2024 04:37
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