We use over 22,000 firm-year observations from 1995-2010 to investigate whether combining roles of CEO and board-chair causes poor performance. Our research design allows us to reconcile disagreement in the literature about whether CEO-chair duality impacts shareholder value. CEOs are awarded...

We study the relation between public corruption and the value as well as disclosure policies of firms at the state level in the United States. Consistent with our hypotheses, firms have significantly lower value (Tobin's Q) and informational transparency in more corrupt areas. Local corruption...