A recent decision by the Louisiana Supreme Court handed a decisive win to backers of a long-running campaign to create a new, overwhelmingly white Baton Rouge-area school system, further concentrating poverty in the remaining, majority-Black part of the district. When finalized, the secession will likely cost East Baton Rouge Parish Public Schools 10,000 students and […]
LONG HILL TWP. – Colleagues on the grades K-8 Board of Education reflected on board member Alexander D’Jamoos’ tenure and contributions at the Monday, Dec. 4 board meeting.
This paper investigates whether board tenure is associated with corporate cash holding and whether country-level political stability moderates the effect of board tenure on corporate cash holding. Using 16,351 firm-year observations across 39 countries, our main results show that firms with higher average board tenure exhibit lower cash holding. Furthermore, strong political stability mitigates the negative relationship between the average board tenure and corporate cash holdings. Our results are robust to various specifications, including endogeneity issue, weighted least-square regression, global financial crisis effect, and alternative measures for corporate cash holding and country-level institutional factors. Overall, our results imply the need to strengthen the institutional environment, given that countries with stable politics are those with incentives for the board to function effectively.
About Emera We re a team of experts focused on building a cleaner energy future. Our Environmental, Social and Governance commitments are core. | April 12, 2023