Busy Directors and Compensation Effects on Firm Performance and Resilience

Autor
Aliki Karagrigoriou Galanos
Co-autores
Marcelo Scherer Perlin , Cristian Rogério Foguesatto
Resumo
Busy board members bring valuable experience, networks, and expertise to firms, yet holding multiple directorships also has potential drawbacks. These directors typically receive higher compensation, but it remains unclear whether this reflects superior skills or compensates for limited time and attention. We examine whether busy directors are more generously compensated and how their compensation relates to firm performance and resilience. Using a comprehensive dataset of over 18,000 board members from publicly traded, non-financial U.S. firms between 2008 and 2024, we find that busy directors receive higher total compensation, though not in the form of longterm incentives.
Palavras-chave
busy boards, compensation, performance, resilience
Modalidade
Comunicação oral
Área Temática
Finanças Corporativas e Bancárias

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Referência

GALANOS, Aliki Karagrigoriou; PERLIN, Marcelo Scherer; FOGUESATTO, Cristian Rogério. Busy Directors and Compensation Effects on Firm Performance and Resilience. In: XXVI Encontro Brasileiro de Finanças - Universidade de Fortaleza (Unifor)| Fortaleza, Ceará, 2026. Disponível em: <https://doity.com.br/anais/26ebfin/trabalho/511830>. Acesso em: 07/08/2026 às 00:39

Apreçamento de Ativos
Finanças Corporativas e Bancárias
Econometria Financeira
Engenharia Financeira
Macrofinanças
Econometria Financeira

Comissão Organizadora

Anderson Odias da Silva
Rafael Schiozer
Marcelo Fernandes

Comissão Científica

Alan De Genaro (FGV EAESP)
Allisson Martins (Universidade de Fortaleza)
Amanda Miranda Fantinatti (FEA-USP)
André de Castro Silva (Nova SBE)
Benjamin Miranda Tabak (FGV EPPGE)
Bernardo Ricca (Insper)
Bruno Cara Giovannetti (FGV EESP)
Caio Almeida (Princeton)
Claudia Yoshinaga (FGV EAESP)
Cristina Scherrer (LSE)
Danilo Cascaldi-Garcia (FED)
Eduardo Flores (FEA-USP)
Eduardo Horta (UFRGS)
Eduardo Kazuo Kayo (FEA-USP)
Emerson Fernandes Marçal (FGV EESP)
Fernando Chague (FGV EESP)
Flavio Augusto Ziegelmann (UFRGS)
Gustavo Freire (Nova SBE)
Gustavo Silva Araujo (BCB)
Henrique Castro (FGV EESP)
Henrique Castro Martins (FGV EAESP)
Jaime de Jesus Filho (FGV)
Jose Renato Haas Ornelas (BCB)
João F. Caldeira (UFSC)
Jéfferson Augusto Colombo (FGV EESP)
Klenio Barbosa (SKEMA)
Layla Mendes (FGV EBAPE)
Leandro dos Santos Maciel (FEA-USP)
Lucas Ayres Barreira de Campos Barros (FEA-USP)
Marcelo Brutti Righi (UFRGS)
Marcelo Fernandes (FGV EESP)
Marcelo Klötzle (PUC-Rio)
Mariana Oreng (ESPM)
Márcio Poletti Laurini (FEA-RP/USP)
Naielly Marques (PUC-Rio)
Paulo Renato Soares Terra (FGV EAESP)
Paulo Rogério Faustino de Matos (UFC)
Pedro A. C. Saffi (CUNEF)
Rafael Felipe Schiozer (FGV EAESP)
Rafael Matta (SKEMA)
Raquel de Freitas Oliveira (BCB)
Raul Riva (FGV EPGE)
Roberto Bomgiovani Cazzari (FEA-USP)
Rodrigo De Losso da Silveira Bueno (FEA-USP)
Rodrigo Leite (COPPEAD/UFRJ)
Ruy Monteiro Ribeiro (Insper)
Vinicius Augusto Brunassi Silva (FGV EESP)
Wilson Toshiro Nakamura (Mackenzie)
Yuri Fahham Saporito (FGV EMAp)