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Independent Directors: After the Crisis

Abstract:

This paper re-evaluates the corporate governance concept of 'board independence' against the disappointing experiences during the 2007-08 financial crisis. Independent or outside directors had long been seen as an essential tool to improve the monitoring role of the board. Yet the crisis revealed that they did not prevent firms' excessive risk taking; further, these directors sometimes showed serious deficits in understanding the business they were supposed to control, and remained passive in...

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Publication status:
Published

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Publisher copy:
10.1017/S1566752912001206

Authors


Ringe, W-G More by this author
Journal:
EUROPEAN BUSINESS ORGANIZATION LAW REVIEW
Volume:
14
Issue:
3
Pages:
401-424
Publication date:
2013
DOI:
EISSN:
1741-6205
ISSN:
1566-7529
URN:
uuid:564c0c33-78f6-4409-aab8-4d5d239d5215
Source identifiers:
439233
Local pid:
pubs:439233

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