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

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

Authors

A. Charitou

C. Louca

N. Vafeas



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
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.

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