BOARD COMPOSITION AND CORPORATE FINANCING - THE IMPACT OF FINANCIAL INSTITUTION REPRESENTATION ON BORROWING

Authors
STEARNS LB MIZRUCHI MS
Citation
Lb. Stearns et Ms. Mizruchi, BOARD COMPOSITION AND CORPORATE FINANCING - THE IMPACT OF FINANCIAL INSTITUTION REPRESENTATION ON BORROWING, Academy of Management journal, 36(3), 1993, pp. 603-618
Citations number
32
Categorie Soggetti
Management,Business
Journal title
Academy of Management journal → ACNP
ISSN journal
00014273
Volume
36
Issue
3
Year of publication
1993
Pages
603 - 618
Database
ISI
SICI code
0001-4273(1993)36:3<603:BCACF->2.0.ZU;2-V
Abstract
This study examined the extent to which the presence of representative s of financial institutions on firms' boards of directors affected bor rowing decisions. Through a time-series analysis of 22 large U.S. manu facturing firms from 1956 through 1983, we found that the types of fin ancial institutions represented on firms' boards were associated with the amounts and types of financing the firms obtained.