TY  - JOUR
AB  - Purpose New Zealand reintroduced titular honours (i.e. knighthoods and damehoods) in 2009. We document the prevalence of knights and dames on the board of directors.Design/methodology/approach We use a probit regression to investigate what firm characteristics are significantly associated with having a knight or dame on the board of directors.Findings We find 19 of 112 companies have a knight or dame on the board. These companies are bigger and have larger and more independent boards than other companies. We also find a knight or dame is more likely to serve in companies that have higher dividend yields.Research limitations/implications The generalisability of our results is limited by the small number of knights and dames on the boards of listed companies and our archival regression approach. Although we document an association, we cannot prove causation.Originality/value We show that directors with greater and easily visible reputational capital are more likely to supply their services to companies that mitigate risks to their reputation and protect minority shareholder interests.
VL  - 32
IS  - 2
SN  - 1030-9616
DO  - 10.1108/ARJ-06-2017-0100
UR  - https://doi.org/10.1108/ARJ-06-2017-0100
AU  - Li Michelle
AU  - Ma Diandian
AU  - Scott Tom
PY  - 2019
Y1  - 2019/01/01
TI  - Knights and dames on the board of directors
T2  - Accounting Research Journal
PB  - Emerald Publishing Limited
SP  - 295
EP  - 310
Y2  - 2024/04/25
ER  -