Director independence or decision bias? An investigation of alternative sources of agency costs in board decision making

Al-Zoubi, Abdallah Bader Mahmoud (2015) Director independence or decision bias? An investigation of alternative sources of agency costs in board decision making. PhD thesis, Queensland University of Technology.


Research into boards traditionally focuses on independent monitoring of management, with studies focused on the effect of board independence on firm performance. This thesis aims to broaden the research tradition by consolidating prior research and investigating how agents may circumvent independent monitoring. Meta-analysis of previous board independence-firm performance studies indicated no systematic relationship between board independence and firm performance. Next, a series of experiments demonstrated that the presentation of recommendations to directors may bias decision making irrespective of other information presented and the independence of the decision maker. Together, results suggest that independence may be less important than the agent's motivation to misdirect the monitoring process.

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ID Code: 89752
Item Type: QUT Thesis (PhD)
Supervisor: Nicholson, Gavin & Hutchinson, Marion
Keywords: Corporate Governance, Agency Costs, Board of Directors, Board Independence, Behavioural Decision Making, Decision Bias, Anchoring Effect, Australia, Meta-analysis, Experiment
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
Institution: Queensland University of Technology
Deposited On: 16 Dec 2015 05:24
Last Modified: 16 Dec 2015 05:24

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