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What Do Boards Really Do? Evidence from Minutes of Board Meetings

Schwartz-Ziv, Miriam - 2011

We analyze a unique database from a sample of real-world boardrooms - minutes of board meetings and board-committee meetings of eleven business companies for which the Israeli government holds a substantial equity interest. We use these data to evaluate the underlying assumptions and predictions...

Persistent link: https://www.econbiz.de/10013119600

Throwing Good Money after Bad? Board Connections and Conflicts in Bank Lending

Kroszner, Randall - 2001

This paper investigates the frequency of connections between banks and non-financial firms through board linkages and whether those connections affect lending and borrowing behavior. Although a board linkages may reduce the costs of information flows between the lender and borrower, a board...

Persistent link: https://www.econbiz.de/10012787534

The Case Against Board Veto in Corporate Takeovers

Bebchuk, Lucian A. - 2009

This paper argues that once undistorted shareholder choice is ensured -- which can be done by making it necessary for hostile bidders to win a vote of shareholder support -- boards should not have veto power over takeover bids. The paper considers all of the arguments that have been offered for...

Persistent link: https://www.econbiz.de/10012767824

Busy Directors : Strategic Interaction and Monitoring Synergies

Ljungqvist, Alexander - 2017

We derive conditions for when having a “busy” director on the board is harmful to shareholders and when it is beneficial. Our model allows directors to condition their monitoring choices on their co-directors' choices and to experience positive or negative monitoring synergies across firms....

Persistent link: https://www.econbiz.de/10012946482

Breaking the Glass Ceiling? The Effect of Board Quotas on Female Labor Market Outcomes in Norway

Bertrand, Marianne - 2014

In late 2003, Norway passed a law mandating 40 percent representation of each gender on the board of public limited … corporate sector and decrease the gender disparity in earnings within that sector. We document that the women appointed to these … boards post-reform were observably more qualified than their female predecessors along many dimensions, and that the gender …

Persistent link: https://www.econbiz.de/10013051756

Perceived FOMC : The Making of Hawks, Doves and Swingers

Bordo, Michael D. - 2018

Narrative records in US newspapers reveal that about 70 percent of Federal Open Market Committee (FOMC) members who served during the last 55 years are perceived to have had persistent policy preferences over time, as either inflation-fighting hawks or growth-promoting doves. The rest are...

Persistent link: https://www.econbiz.de/10012918077

Deadlock on the Board

Donaldson, Jason Roderick - 2019

entrenched CEO. We explore how to compose boards and appoint directors to mitigate deadlock. We find that board diversity and …

Persistent link: https://www.econbiz.de/10012864484

Staggered Boards and the Wealth of Shareholders : Evidence from Two Natural Experiments

Bebchuk, Lucian A. - 2011

While staggered boards have been documented to be negatively correlated with firm valuation, such association might be due to staggered boards either bringing about lower firm value or merely reflecting the tendency of low-value firms to have staggered boards. In this paper, we use two natural...

Persistent link: https://www.econbiz.de/10013123700

The Costs of Entrenched Boards

Bebchuk, Lucian A. - 2004

This paper investigates empirically how the value of publicly traded firms is overall affected by arrangements protecting management from removal. A majority of U.S. public companies have staggered boards that substantially insulate the board from removal via a hostile takeover or a proxy...

Persistent link: https://www.econbiz.de/10012785603

School Boards and Student Segregation

Macartney, Hugh - 2017

This paper provides the first causal evidence about how elected local school boards affect student segregation across schools. The key identification challenge is that the composition of a school board is potentially correlated with unobserved determinants of school segregation, such as the...

Persistent link: https://www.econbiz.de/10012951339