Staggered Boards and Human Capital Disclosure
Abstract
This article examines the effects of staggered boards on human capital management (HCM) disclosure quality. I find that firms with staggered boards exhibit significantly better HCM disclosure scores than non-staggered boards. Additionally, firms that transition from staggered boards to non-staggered boards are shown to experience significant decreases in their HCM disclosure scores. These results are robust to the exclusion of firms that switch to or from staggered boards to non-staggered boards, propensity score matching, and alternative disclosure quality measures. While various cross-sections and the usefulness of HCM disclosure information for analyst forecasts are explored, the results were not significant.
Subject Area
Accounting|Management|Finance
Recommended Citation
Yang, Xue, "Staggered Boards and Human Capital Disclosure" (2024). ETD Collection for University of Texas, El Paso. AAI31243448.
https://scholarworks.utep.edu/dissertations/AAI31243448