Boards, Ownership Structure and Involuntary Delisting from the New York Stock Exchange

Charitou, A.; Louca, C.; Vafeas, N.

Abstract

This study examines whether the likelihood of becoming involuntarily delisted from NYSE is associated with a firm’s board of directors and ownership characteristics. To this end we compare 161 firms that were delisted from NYSE between 1998 and 2004 to a set of industry and size-matched control firms. Consistent with our expectations, we find that the likelihood of delisting is related to a firm’s governance characteristics. Our results on the importance of the board of directors are new to this setting and add to a large body of evidence linking corporate boards and ownership characteristics to corporate performance

Citation

Charitou, A., Louca, C., & Vafeas, N. (2007). Boards, Ownership Structure and Involuntary Delisting from the New York Stock Exchange. Journal of Accounting and Public Policy, 26(2), 249-262. https://doi.org/10.1016/j.jaccpubpol.2007.02.006

• Journal Article Type: Article
• Publication Date: 2007-03
• Deposit Date: Mar 21, 2007
• Journal: Journal of Accounting and Public Policy
• Print ISSN: 0278-4254
• Electronic ISSN: 1873-2070
• Publisher: Elsevier
• Peer Reviewed: Peer Reviewed
• Volume: 26
• Issue: 2
• Pages: 249-262
• DOI: https://doi.org/10.1016/j.jaccpubpol.2007.02.006
• Keywords: Board of directors, Delisting, NYSE.
• Public URL: https://durham-repository.worktribe.com/output/1548967