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TWO ESSAYS ON PEER EFFECTS AND DIVERSITY WITHIN THE BOARDROOM
| Title: | TWO ESSAYS ON PEER EFFECTS AND DIVERSITY WITHIN THE BOARDROOM. |
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| Name(s): |
Damm, Jason, author Javakhadze, David , Thesis advisor Florida Atlantic University, Degree grantor Department of Finance College of Business |
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| Type of Resource: | text | |
| Genre: | Electronic Thesis Or Dissertation | |
| Date Created: | 2022 | |
| Date Issued: | 2022 | |
| Publisher: | Florida Atlantic University | |
| Place of Publication: | Boca Raton, Fla. | |
| Physical Form: | application/pdf | |
| Extent: | 118 p. | |
| Language(s): | English | |
| Abstract/Description: | In this manuscript, I present two essays which examine the role of diversity within the corporate boardroom. The first essay determines that board compensation practices at competing firms influence the remuneration arrangements of directors. Consistent with the observational learning perspective, directors mimic the behavior of peer firms in setting their own compensation, but that diversity, in the form of gender, race/ethnicity, education, and experience moderates this relationship. Diversity also leads to better board performance measured through its impact on excess CEO compensation and CEO turnover sensitivity. In the second essay, I document the presence of peer influence in diversity hires. As firms within an industry hire more women and minority directors, others will do the same. This type of herding behavior has both positive and negative outcomes. Firm stock and operating performance is worse in the years after a peer-driven diversity hire, yet board performance is better. I conclude that peer-driven decisions may be suboptimal, but that diversity can promote better governance in the boardroom. | |
| Identifier: | FA00013907 (IID) | |
| Degree granted: | Dissertation (Ph.D.)--Florida Atlantic University, 2022. | |
| Collection: | FAU Electronic Theses and Dissertations Collection | |
| Note(s): | Includes bibliography. | |
| Subject(s): |
Boards of directors Executives--Salaries, etc Diversity |
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| Persistent Link to This Record: | http://purl.flvc.org/fau/fd/FA00013907 | |
| Use and Reproduction: | Copyright © is held by the author with permission granted to Florida Atlantic University to digitize, archive and distribute this item for non-profit research and educational purposes. Any reuse of this item in excess of fair use or other copyright exemptions requires permission of the copyright holder. | |
| Use and Reproduction: | http://rightsstatements.org/vocab/InC/1.0/ | |
| Host Institution: | FAU | |
| Is Part of Series: | Florida Atlantic University Digital Library Collections. |
