Sushka, Marie; Slovin, Myron; Ginglinger, Edith; Belot, … - Université Paris-Dauphine (Paris IX) - 2012
Many governance reform proposals focus on strengthening board monitoring. In contrast, Adams and Ferreira (2007) and … Harris and Raviv (2008) conclude that a passive board is often optimal. We examine determinants of board structure choice in … France, where firms are free to choose between a unitary (passive) board and a dual (monitoring) board. We find firms with …