@TechReport{iza:izadps:dp7962,
            	author={Muravyev, Alexander and Talavera, Oleksandr and Weir, Charlie},
            	title={Performance Effects of Appointing Other Firms' Executive Directors to Corporate Boards: An Analysis of UK Firms},
            	year={2014},
	month={Feb},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={7962},
            	url={https://www.iza.org/index.php/publications/dp7962},
	abstract={This paper studies the effect on company performance of appointing non-executive directors that are also executive directors in other firms. The analysis is based on a new panel dataset of UK companies over 2002-2008. Our findings suggest a positive relationship between the presence of these non-executive directors and the accounting performance of the appointing companies. The effect is stronger if these directors are executive directors in firms that are performing well. We also find a positive effect when these non-executive directors are members of the audit committee. Overall, our results are broadly consistent with the view that non-executive directors that are executives in other firms contribute to both the monitoring and advisory functions of corporate boards.},
	keywords={executive directors;non-executive directors;company performance},
            }