%0 Report
        %A Muravyev, Alexander
%A Talavera, Oleksandr
%A Weir, Charlie
        %T Performance Effects of Appointing Other Firms' Executive Directors to Corporate Boards: An Analysis of UK Firms
        %D 2014
        %8 2014 Feb
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 7962
        %U https://www.iza.org/index.php/publications/dp7962
        %X 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.
        %K executive directors
%K non-executive directors
%K company performance