Avci, S. Burcu; Schipani, Cindy A.; Seyhun, H. Nejat - 2017 - Last revised: 2 Oct 2017
In this article, we argue that the U.S. corporate governance rules put too much faith in the independent board members and insufficient emphasis on the shareholders themselves to control and monitor the top management. Given the agency problem between the board of directors and the shareholders,...
