Document Type
Article
Publication Date
2004
Publication Title
Academy of Accounting and Financial Studies Journal
First Page
73
Last Page
91
Additional Publication URL
http://www.alliedacademies.org/Publications/Download.aspx?fid=217
Abstract
Recent corporate bankruptcies have placed renewed focus on the role of a firm's board of directors; therefore, I study rankings of the best and worst boards of directors as published by Business Week. Similar to prior studies examining survey data, I find that the portion of the rankings determined via investment manager survey is biased by the "halo effect." However, I also find that the rankings as a whole, and particularly the portion calculated via quantitative analysis, do provide information that can be used in a trading strategy capable of generating positive abnormal returns, thereby implying that board strength does matter.
Rights
This article was archived with permission from Academy of Accounting and Financial Studies, all rights reserved. Document also available from Academy of Accounting and Financial Studies Journal.
Recommended Citation
Dolvin, Steven D., "Business Week Board Rankings and Subsequent Stock Returns" (2004). Scholarship and Professional Work - Business. 127.
https://digitalcommons.butler.edu/cob_papers/127
