Compensation, status, and press coverage of managers in the U.S. follow a highly skewed distribution: a small number of … governance, even though the frequency of obtaining superstar status is independent of corporate governance. Our results suggest …

governance curb misbehavior. We combine these two insights from the literatures on misvaluation and governance to ask 'when does … governance matter?' Examining firms with standard long-run measures of corporate governance as they are shocked by plausible … misvaluation, we provide consistent evidence that firm performance is impacted by governance when firms become overvalued …

this behavior using the dominant corporate governance paradigm based on shareholder value maximization. We explain how …

entrusted with their governance, just as economies need constitutions and independent judiciaries to restrain those entrusted … problems and agency problems in corporations may reinforce each other, compromising the quality of both corporate governance …

We compare the governance of foreign firms to the governance of similar U.S. firms. Using an index of firm governance … attributes, we find that, on average, foreign firms have worse governance than matching U.S. firms. Roughly 8% of foreign firms … have better governance than comparable U.S. firms. The majority of these firms are either in the U.K. or in Canada. When we …

The bulk of corporate governance theory examines the agency problems that arise from two extreme ownership structures …