8Fama, E. F. & Jensen, M. C., 1983. Separation of Ownership and Control, Journal of Law and Economics. 26, pp. 312.
9Brickley,J. A., Coles,J. L. & Terry, R.L., 1994. Outside Directors and the Adoption of Poison Hlls, Journal of Financial Economics. 35,3,pp.383;see also Marc Zenner, James Cotter & Anil Shivdasani, 1997. Do Independent Directors Enhance Target Shareholder Wealth During Tender Offers,Journal of Financial Economics, pp. 113.
10Kaplan, Steven N. & David Reishus, 1990. Outside Directorships and Corporate Performance. Journal of Financial Economics 27 (2) : pp. 398.