Document Type
Report
Key Takeaways
Negative media coverage and star analyst downgrades increase likelihood of directors exiting the board by 57% and 30%. • Board chairs were 24% less likely to leave than non-board chairs following star analyst downgrades. • Longer tenured directors were more likely to depart in the face of both negative media coverage (16%) and star analyst downgrades (36%).
Publication Date
2021
Source
Harrison, J.S., Boivie, S., Sharp, N.Y., & Gentry, R.J. (2018). Saving face: How exit in response to negative press and start analyst downgrades reflects reputation maintenance by directors. Academy of Management Journal, 61: 1131-1157.
Disciplines
Business
Copyright
© 2018, University of South Carolina
Publication Info
Harrison, J.S., Boivie, S., Sharp, N.Y., & Gentry, R.J. (2018). Saving face: How exit in response to negative press and start analyst downgrades reflects reputation maintenance by directors. Academy of Management Journal, 61: 1131-1157., 2021.