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Death by committee? An analysis of corporate board (sub-) committees
Journal of Financial Economics ( IF 8.238 ) Pub Date : 2021-05-27 , DOI: 10.1016/j.jfineco.2021.05.032
Renée B. Adams , Vanitha Ragunathan , Robert Tumarkin

Theoretical models of groups suggest that sub-group usage can affect communication among members and group decision-making. To examine the trade-offs from forming sub-groups, we assemble a detailed dataset on corporate boards (groups) and committees (sub-groups). Boards have increasingly used committees formally staffed entirely by outside directors. Our data show that twenty-five percent of all director meetings occurred in such committees in 1996; this increased to 45% by 2010. Our evidence suggests that granting formal authority to such committees can impair communication and decision-making. Sub-groups are relatively understudied, but our results suggest that they play an important role in group functioning and corporate governance.



中文翻译:

委员会死亡?公司董事会(子)委员会分析

群体的理论模型表明,子群体的使用会影响成员之间的交流和群体决策。为了检查形成子组的权衡,我们收集了关于公司董事会(组)和委员会(子组)的详细数据集。董事会越来越多地使用完全由外部董事组成的正式委员会。我们的数据显示,1996 年所有董事会议中有 25% 是在此类委员会中召开的;到 2010 年,这一比例增加到 45%。我们的证据表明,向此类委员会授予正式权力可能会影响沟通和决策。子集团的研究相对较少,但我们的研究结果表明,它们在集团运作和公司治理中发挥着重要作用。

更新日期:2021-07-21
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