The active board of directors and performance of the large publicly traded corporation

Article Abstract:

Corporations with active, independent, professional boards of directors achieve higher returns for investors than those with passive, non-independent boards. A study of 154 large, publicly traded domestic corporations analyzing operating earnings in excess of capital costs along with the authors' judgment as to the presence or absence of a professional board is used to test this hypothesis. The data analysis from 1991-1995 shows significant increases in economic profit when a professional board headed the corporation.

United States

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Corporate constituency statutes: hollow hopes and false fears

Article Abstract:

The author discusses corporate constituency statutes which he concludes have not served the purpose for which they were enacted. That purpose was to encourage changes in corporate policy toward labor and the community through the empowerment of directors to consider issues other than shareholder profit when making decisions.

States, Evaluation, Stockholders, Corporation law, Powers and duties

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