Overlapping committee membership and cost of equity capital

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dc.citation.volume84
dc.contributor.authorBhuiyan MBU
dc.contributor.authorCheema MA
dc.date.accessioned2024-06-10T02:13:24Z
dc.date.available2024-06-10T02:13:24Z
dc.date.issued2024-04
dc.description.abstractThis study examines the association between overlapping committee membership and the cost of equity capital among listed companies in Australia. Overlapping committee membership occurs when a director serves on multiple supervisory committees concurrently. To the extent overlapping committee membership reduces information asymmetry, improves financial reporting quality, and consequently reduces the overall risk of the firms, we expect a negative relationship between overlapping membership and the cost of equity capital. Consistent with our argument, we find a positive impact of overlapping committee membership and provide evidence that firms with overlapping committee membership have a lower cost of equity capital. Furthermore, our results indicate that the positive impact of overlapping committee membership on the cost of equity capital is more evident when overlapping committee members are non-busy directors.
dc.description.confidentialfalse
dc.edition.editionApril 2024
dc.identifier.citationBhuiyan MBU, Cheema MA. (2024). Overlapping committee membership and cost of equity capital. Pacific Basin Finance Journal. 84.
dc.identifier.doi10.1016/j.pacfin.2024.102282
dc.identifier.eissn1879-0585
dc.identifier.elements-typejournal-article
dc.identifier.issn0927-538X
dc.identifier.number102282
dc.identifier.piiS0927538X24000337
dc.identifier.urihttps://mro.massey.ac.nz/handle/10179/69760
dc.languageEnglish
dc.publisherElsevier B V
dc.publisher.urihttps://www.sciencedirect.com/science/article/pii/S0927538X24000337
dc.relation.isPartOfPacific Basin Finance Journal
dc.rights(c) 2024 The Author/s
dc.rightsCC BY 4.0
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/
dc.subjectOverlapping committee membership
dc.subjectCost of equity capital
dc.subjectNon-busy directors
dc.titleOverlapping committee membership and cost of equity capital
dc.typeJournal article
pubs.elements-id486381
pubs.organisational-groupOther
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