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The impacts of multiple large ownership structure on board independence

Adelopo, Ismail; Yinusa, Ganiyu; Rufai, Ibrahim

Authors

Ganiyu Yinusa

Ibrahim Rufai



Abstract

Copyright © 2019 Inderscience Enterprises Ltd. The determinants of the composition of corporate boards remain inconclusive. This study investigates the impacts of multiple large ownership structure on board independence for a sample of UK listed companies. Using multiple regression analysis, and controlling for endogeneity, the study shows that the larger the difference in shareholding between the first and second largest owners, the less independent is the board. Monitoring efficiency is enhanced the higher the ratio of the shareholding of the second largest shareholder relative to the shareholding of the first largest shareholder. These findings have significant implications for board monitoring and corporate governance regulations.

Citation

Adelopo, I., Yinusa, G., & Rufai, I. (2019). The impacts of multiple large ownership structure on board independence. International Journal of Accounting, Auditing and Performance Evaluation, 15(1), 1-30. https://doi.org/10.1504/IJAAPE.2019.096732

Journal Article Type Article
Acceptance Date Sep 14, 2017
Online Publication Date Nov 19, 2018
Publication Date Jan 1, 2019
Journal International Journal of Accounting, Auditing and Performance Evaluation
Print ISSN 1740-8008
Electronic ISSN 1740-8016
Publisher Inderscience
Peer Reviewed Peer Reviewed
Volume 15
Issue 1
Pages 1-30
DOI https://doi.org/10.1504/IJAAPE.2019.096732
Keywords board independence
Public URL https://uwe-repository.worktribe.com/output/854495
Publisher URL http://dx.doi.org/10.1504/IJAAPE.2019.096732
Additional Information Additional Information : This is the author's accepted manuscript. The final published version is available here: http://dx.doi.org/10.1504/IJAAPE.2019.096732.

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