{"id":"https://openalex.org/W2079478368","doi":"https://doi.org/10.1111/acfi.12008","title":"Are Multiple Directorships Beneficial in East Asia?","display_name":"Are Multiple Directorships Beneficial in East Asia?","publication_year":2012,"publication_date":"2012-12-22","ids":{"openalex":"https://openalex.org/W2079478368","doi":"https://doi.org/10.1111/acfi.12008","mag":"2079478368"},"language":"en","primary_location":{"id":"doi:10.1111/acfi.12008","doi":"https://doi.org/10.1111/acfi.12008","is_oa":false,"landing_page_url":"https://doi.org/10.1111/acfi.12008","pdf_url":null,"source":{"id":"https://openalex.org/S4210171597","display_name":"Accounting and Finance","issn_l":"0810-5391","issn":["0810-5391","1467-629X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Accounting & Finance","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5008941687","display_name":"Kin\u2010Wai Lee","orcid":"https://orcid.org/0000-0003-4092-3865","observed_orcids":["https://orcid.org/0000-0003-4092-3865"]},"institutions":[{"id":"https://openalex.org/I172675005","display_name":"Nanyang Technological University","ror":"https://ror.org/02e7b5302","country_code":"SG","type":"education","lineage":["https://openalex.org/I172675005"]}],"countries":["SG"],"is_corresponding":false,"raw_author_name":"Kin\u2010Wai Lee","raw_affiliation_strings":["(Nanyang Business School, Nanyang Technological University, Singapore)"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"(Nanyang Business School, Nanyang Technological University, Singapore)","institution_ids":["https://openalex.org/I172675005"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5112806225","display_name":"Cheng-Few Lee","orcid":"https://orcid.org/0000-0002-7407-7794","observed_orcids":["https://orcid.org/0000-0002-7407-7794"]},"institutions":[{"id":"https://openalex.org/I102322142","display_name":"Rutgers, The State University of New Jersey","ror":"https://ror.org/05vt9qd57","country_code":"US","type":"education","lineage":["https://openalex.org/I102322142"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Cheng\u2010Few Lee","raw_affiliation_strings":["Rutgers Business School Rutgers \u2013 The State University of New Jersey Piscataway NJ USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Rutgers Business School Rutgers \u2013 The State University of New Jersey Piscataway NJ USA","institution_ids":["https://openalex.org/I102322142"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":{"value":3470,"currency":"USD","value_usd":3470},"apc_paid":null,"fwci":6.8403,"has_fulltext":false,"cited_by_count":40,"citation_normalized_percentile":{"value":0.96454165,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":90,"max":99},"biblio":{"volume":"54","issue":"3","first_page":"999","last_page":"1032"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9994999766349792,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9994999766349792,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11047","display_name":"Gender Diversity and Inequality","score":0.0,"subfield":{"id":"https://openalex.org/subfields/3318","display_name":"Gender Studies"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.0,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/multiple-directorships","display_name":"multiple directorships","score":0.9929999709129333},{"id":"https://openalex.org/keywords/firm-valuation","display_name":"business valuation","score":0.8560000061988831},{"id":"https://openalex.org/keywords/shareholder-rights","display_name":"shareholder rights","score":0.7409999966621399},{"id":"https://openalex.org/keywords/ownership-structure","display_name":"ownership structure","score":0.7490000128746033},{"id":"https://openalex.org/keywords/external-financing-needs","display_name":"external financing needs","score":0.6549999713897705},{"id":"https://openalex.org/keywords/advisory-services","display_name":"advisory services","score":0.46700000762939453},{"id":"https://openalex.org/keywords/corporate-cash-holdings","display_name":"cash holdings","score":0.6439999938011169},{"id":"https://openalex.org/keywords/capital-expenditure","display_name":"capital expenditure","score":0.9139999747276306},{"id":"https://openalex.org/keywords/voting-rights","display_name":"voting rights","score":0.5630000233650208},{"id":"https://openalex.org/keywords/east-asia","display_name":"East Asia","score":0.44999998807907104}],"concepts":[{"id":"https://openalex.org/C120757647","wikidata":"https://www.wikidata.org/wiki/Q381136","display_name":"Shareholder","level":3,"score":0.7523984909057617},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.7169240117073059},{"id":"https://openalex.org/C186027771","wikidata":"https://www.wikidata.org/wiki/Q4008379","display_name":"Valuation (finance)","level":2,"score":0.6692692041397095},{"id":"https://openalex.org/C520049643","wikidata":"https://www.wikidata.org/wiki/Q189760","display_name":"Voting","level":3,"score":0.6068593859672546},{"id":"https://openalex.org/C163428354","wikidata":"https://www.wikidata.org/wiki/Q1047513","display_name":"Cash flow","level":2,"score":0.5700773000717163},{"id":"https://openalex.org/C23032112","wikidata":"https://www.wikidata.org/wiki/Q1344727","display_name":"Enterprise value","level":2,"score":0.5595237016677856},{"id":"https://openalex.org/C172497479","wikidata":"https://www.wikidata.org/wiki/Q302208","display_name":"Capital expenditure","level":2,"score":0.4616718292236328},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.4328594505786896},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.342578649520874},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.33772510290145874},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.32537150382995605},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.2009691596031189},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1111/acfi.12008","doi":"https://doi.org/10.1111/acfi.12008","is_oa":false,"landing_page_url":"https://doi.org/10.1111/acfi.12008","pdf_url":null,"source":{"id":"https://openalex.org/S4210171597","display_name":"Accounting and Finance","issn_l":"0810-5391","issn":["0810-5391","1467-629X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Accounting & Finance","raw_type":"journal-article"},{"id":"pmh:oai:dr.ntu.edu.sg:10356/97981","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10220/12283","pdf_url":null,"source":{"id":"https://openalex.org/S4306402609","display_name":"DR-NTU (Nanyang Technological University)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I172675005","host_organization_name":"Nanyang Technological University","host_organization_lineage":["https://openalex.org/I172675005"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Journal Article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":48,"referenced_works":["https://openalex.org/W578807824","https://openalex.org/W1508761556","https://openalex.org/W1513613701","https://openalex.org/W1521695169","https://openalex.org/W1950785596","https://openalex.org/W2003663712","https://openalex.org/W2014524200","https://openalex.org/W2020443871","https://openalex.org/W2020970716","https://openalex.org/W2036761606","https://openalex.org/W2074132263","https://openalex.org/W2082524484","https://openalex.org/W2096718584","https://openalex.org/W2096874528","https://openalex.org/W2101242833","https://openalex.org/W2109341202","https://openalex.org/W2120744852","https://openalex.org/W2143513521","https://openalex.org/W2160860931","https://openalex.org/W2171135446","https://openalex.org/W2283303653","https://openalex.org/W2744748893","https://openalex.org/W3121131820","https://openalex.org/W3121974956","https://openalex.org/W3121986562","https://openalex.org/W3122065236","https://openalex.org/W3122148582","https://openalex.org/W3122178747","https://openalex.org/W3122711978","https://openalex.org/W3122769798","https://openalex.org/W3122859634","https://openalex.org/W3122925398","https://openalex.org/W3123055067","https://openalex.org/W3123569849","https://openalex.org/W3123941433","https://openalex.org/W3123956460","https://openalex.org/W3123992956","https://openalex.org/W3124587674","https://openalex.org/W3124671411","https://openalex.org/W3124747412","https://openalex.org/W3125354808","https://openalex.org/W3125424681","https://openalex.org/W3125441856","https://openalex.org/W3125633749","https://openalex.org/W3125688476","https://openalex.org/W3125701181","https://openalex.org/W4252449759","https://openalex.org/W4285719527"],"related_works":["https://openalex.org/W1582663996","https://openalex.org/W2891031282","https://openalex.org/W4289201447","https://openalex.org/W2052709329","https://openalex.org/W2367137761","https://openalex.org/W2597968029","https://openalex.org/W7002311469","https://openalex.org/W7169866955","https://openalex.org/W2805575601","https://openalex.org/W7099214387"],"abstract_inverted_index":{"Abstract":[0],"We":[1,16],"posit":[2],"that":[3,59],"the":[4],"benefits":[5],"and":[6,33,56,85,112,129],"costs":[7],"of":[8,44,108],"multiple":[9,24,45,73,91],"directorships":[10,25,46,74,92],"are":[11,47,60],"conditional":[12],"on":[13],"firm":[14,18,76],"characteristics.":[15],"find":[17],"valuation":[19],"is":[20,115],"positively":[21],"associated":[22],"with":[23,29,36,52,81,119],"in":[26,50,57,79,86,117],"(i)":[27,120],"firms":[28,35,58,118],"high":[30,37,68,121,125],"advising":[31,122],"needs":[32,128],"(ii)":[34,124],"external":[38,126],"financing":[39,127],"needs.":[40],"These":[41],"beneficial":[42],"effects":[43],"generally":[48],"stronger":[49],"countries":[51,80],"weak":[53,82],"shareholder":[54,66,83,101],"rights":[55,84],"widely":[61],"held.":[62],"However,":[63],"when":[64],"controlling":[65],"hold":[67],"voting\u2010rights":[69],"to":[70,100],"cash\u2010flow":[71],"rights,":[72],"reduce":[75],"valuation,":[77],"especially":[78],"closely":[87],"held":[88],"firms.":[89],"As":[90],"increases,":[93],"cash":[94,109],"holdings":[95],"(capital":[96,110],"expenditures)":[97],"contribute":[98],"less":[99,131],"value.":[102],"The":[103],"negative":[104],"association":[105],"between":[106],"value":[107],"expenditure)":[111],"busy":[113],"boards":[114],"mitigated":[116],"needs,":[123],"(iii)":[130],"entrenched":[132],"ownership":[133],"structures.":[134]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":2},{"year":2023,"cited_by_count":5},{"year":2022,"cited_by_count":3},{"year":2021,"cited_by_count":3},{"year":2020,"cited_by_count":10},{"year":2018,"cited_by_count":4},{"year":2017,"cited_by_count":2},{"year":2016,"cited_by_count":2},{"year":2015,"cited_by_count":2},{"year":2014,"cited_by_count":4}],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2016-06-24T00:00:00"}