Herding behavior and board effectiveness
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| Format: | Artículo científico |
| Sprache: | en |
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Consejo Latinoamericano de Escuelas de Administración
2006
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| _version_ | 1876454704125313024 |
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| author | Maximiliano González F. |
| author_facet | Maximiliano González F. |
| contents | Herding behavior and board effectiveness Maximiliano González F. Administración y Contabilidad bayesian models herding behavior board of directors In this study, I argue that independent directors tend to follow a board leader. Itheoretically analyze this behavior and show that under normal circumstancesthere is a tendency for board members to herd. Herding is inefficient because theinformation contained in the signals that directors´ receive is not aggregated andtherefore it is wasted. Herding may be one of the reasons that no empirical relationexists between board composition and firm performance 2006 artículo científico 1012-8255 https://www.redalyc.org/articulo.oa?id=71603606 en http://www.redalyc.org/revista.oa?id=716 Academia. Revista Latinoamericana de Administración application/pdf Consejo Latinoamericano de Escuelas de Administración Academia. Revista Latinoamericana de Administración (Perú) Num.36 |
| format | Artículo científico |
| id | redalyc_71603606 |
| institution | Redalyc |
| language | en |
| publishDate | 2006 |
| publisher | Consejo Latinoamericano de Escuelas de Administración |
| spellingShingle | Herding behavior and board effectiveness Maximiliano González F. Administración y Contabilidad bayesian models herding behavior board of directors Herding behavior and board effectiveness Maximiliano González F. Administración y Contabilidad bayesian models herding behavior board of directors In this study, I argue that independent directors tend to follow a board leader. Itheoretically analyze this behavior and show that under normal circumstancesthere is a tendency for board members to herd. Herding is inefficient because theinformation contained in the signals that directors´ receive is not aggregated andtherefore it is wasted. Herding may be one of the reasons that no empirical relationexists between board composition and firm performance 2006 artículo científico 1012-8255 https://www.redalyc.org/articulo.oa?id=71603606 en http://www.redalyc.org/revista.oa?id=716 Academia. Revista Latinoamericana de Administración application/pdf Consejo Latinoamericano de Escuelas de Administración Academia. Revista Latinoamericana de Administración (Perú) Num.36 |
| title | Herding behavior and board effectiveness |
| topic | Administración y Contabilidad bayesian models herding behavior board of directors |
| url | https://www.redalyc.org/articulo.oa?id=71603606 |