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Full-Text Articles in Business
Does Political Giving Impact Shareholder Wealth? Evidence From State Campaign Finance Reforms, Douglas Brian Blank Ii
Does Political Giving Impact Shareholder Wealth? Evidence From State Campaign Finance Reforms, Douglas Brian Blank Ii
Doctoral Dissertations
Does corporate political giving actually affect shareholder wealth? While firms value political participation, some lawmakers oppose corporate involvement in politics. Yet, the existing literature has established a correlation between campaign finance and corporate outcomes without fully documenting a causal relation. I use an innovative database of political giving to exploit changes in state campaign finance laws as an exogenous shock to political giving. Specifically, I use the staggered adoption of externally imposed legal limits to political giving across U.S. states to expose how shareholder wealth responds. I find shareholder wealth declines following legally imposed reductions in political giving. The causal …
Role Of Inside Directors In Mitigating Negative Effects Of Outside Directors’ Busyness, Syed Mainuddin Kamal
Role Of Inside Directors In Mitigating Negative Effects Of Outside Directors’ Busyness, Syed Mainuddin Kamal
Doctoral Dissertations
In this study, I investigate the effect of outside directors’ busyness on firm performance, and how the presence of a certified inside director (CID) on the board alters the busyness effect. Busy outside directors are over-stretched to provide adequate monitoring. Certified inside directors (CIDs), inside directors holding a directorship at an unaffiliated firm, have director labor market incentives to focus on their own firm’s performance and share firm-specific information to outside directors for effective monitoring. I find that the negative effect of outside directors’ busyness on firm performance is mitigated when a firm’s board includes a certified inside director (CID). …