Aguir, Iness; Burns, Natasha; Mansi, Sattar A.; Wald, … - In: Journal of Financial Intermediation 23 (2014) 4, pp. 570-589
liability provisions have a significant impact both on director compensation and director duty. … with the hypothesis that directors require additional compensation if they bear liability, we find that director … compensation is higher for firms that provide less liability protection. Examining takeovers, we find evidence that takeovers of …