Putting their money where their mouth is: the importance of shareholder directors post listing

Dimovski, William and Brooks, Robert 2005, Putting their money where their mouth is: the importance of shareholder directors post listing, Accounting research journal, vol. 18, no. 1, pp. 34-39.

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Title Putting their money where their mouth is: the importance of shareholder directors post listing
Author(s) Dimovski, William
Brooks, Robert
Journal name Accounting research journal
Volume number 18
Issue number 1
Start page 34
End page 39
Publisher Emerald Group Publishing
Place of publication Melbourne, Vic.
Publication date 2005
ISSN 1030-9616
Summary While Luoma and Goodstein (1999) find increased stakeholder representation on the boards of American companies. Dimovski and Brooks (2004) provide evidence that the Australian initial public offering (IPO) market does not require non equity stakeholder representation on their boards. This paper analyses the change in composition of the boards of large Australian companies post listing. We find a substantial increase in the number of directors holding equity capital in the firms in which they hold their directorships. We also find a decrease in the number of non equity stakeholder directors post listing. This suggests that directors putting their money into the firms in which they have a stewardship function is an important element in the Australian capital market.
Notes Reproduced with the kind permission of the copyright owner.
Language eng
Field of Research 150201 Finance
HERDC Research category C1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2005, Emerald Group Publishing
Persistent URL http://hdl.handle.net/10536/DRO/DU:30002933

Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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