Establishing effective corporate governance is most important at the time of an initial public offering (IPO), because the IPO represents a significant step by a company toward moving to the public arena. This chapter focuses on three characteristics that help describe structure of the board of directors at the time of IPO: board size (i.e., the number of members on a board), board independence (i.e., the proportion of non-executive members on the board), and board leadership (i.e., the choice to overlap the roles of CEO and chairman of the board). The chapter presents empirical evidence from a sample of 969 companies that went public between 1995 and 2011 in France, Germany, and Italy that shows how these companies differ from their US and UK counterparts.
(2019). Corporate governance in European IPOs . Retrieved from http://hdl.handle.net/10446/190498
Corporate governance in European IPOs
Bertoni, Fabio;Meoli, Michele;Vismara, Silvio
2019-01-01
Abstract
Establishing effective corporate governance is most important at the time of an initial public offering (IPO), because the IPO represents a significant step by a company toward moving to the public arena. This chapter focuses on three characteristics that help describe structure of the board of directors at the time of IPO: board size (i.e., the number of members on a board), board independence (i.e., the proportion of non-executive members on the board), and board leadership (i.e., the choice to overlap the roles of CEO and chairman of the board). The chapter presents empirical evidence from a sample of 969 companies that went public between 1995 and 2011 in France, Germany, and Italy that shows how these companies differ from their US and UK counterparts.File | Dimensione del file | Formato | |
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