CORPORATE GOVERNANCE AND CORPORATE ILLEGALITY: THE EFFECTS OF BOARD STRUCTURE ON ENVIRONMENTAL VIOLATIONS

This paper examined the effects of corporate governance structures on the incidence of corporate illegality by analyzing the relationship between environmental violations and several dimensions of corporate board structure. Results demonstrated that the value of stock owned by corporate officers and...

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Bibliographic Details
Published inInternational journal of organizational analysis Vol. 7; no. 3; pp. 201 - 223
Main Authors McKendall, Marie, Sánchez, Carol, Sicilian, Paul
Format Journal Article
LanguageEnglish
Published MCB UP Ltd 01.03.1999
Subjects
Company management
Economic behaviour
Environmental law
Industrial concentration
Organizational analysis
Organizational structure
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Summary:This paper examined the effects of corporate governance structures on the incidence of corporate illegality by analyzing the relationship between environmental violations and several dimensions of corporate board structure. Results demonstrated that the value of stock owned by corporate officers and directors was positively and significantly associated with serious environmental violations. Outsider dominance, joint CEO-Chairpersons, social responsibility committees, and attorneys on boards were not significantly related to corporate illegal behavior. The control variables of size, industry profitability, firm profitability, and industry concentration were all significantly related to environmental violations. The findings involving board structure cast doubt on the efficacy of many popular corporate governance reform proposals.
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ISSN:1055-3185
2576-0785
DOI:10.1108/eb028900