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The Evolution of Bank Boards of Directors in New York, 1840-1950
Bodenhorn, Howard - 2014
Contemporary bank governance is criticized for manager-dominated (insider) boards of directors, but from the beginning of the nineteenth century, bank presidents appear also to have operated as chairmen of the boards of directors. However, the managers were constrained by a variety of rules that...
Persistent link: https://www.econbiz.de/10013054869
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Selecting Directors Using Machine Learning
Erel, Isil - 2018
Can algorithms assist firms in their decisions on nominating corporate directors? We construct algorithms to make out-of-sample predictions of director performance. Tests of the quality of these predictions show that directors predicted to do poorly indeed do poorly compared to a realistic pool...
Persistent link: https://www.econbiz.de/10012923716
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Board Dynamics Over the Startup Life Cycle
Ewens, Michael; Malenko, Nadya - 2022
We explore the dynamics of venture capital (VC)-backed startup boards using novel data on director entry, exit, and characteristics. At formation, a typical board is entrepreneur-controlled. Independent directors join the median board after the second financing, when control becomes shared, and...
Persistent link: https://www.econbiz.de/10013406890
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Taxes, Institutions and Foreign Diversification Opportunities
Desai, Mihir A. - 2007
Investors can access foreign diversification opportunities through either foreign portfolio investment (FPI) or foreign …
Persistent link: https://www.econbiz.de/10012776877
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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
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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
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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
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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
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Corporate Acquisitions, Diversification, and the Firm's Lifecycle
Arikan, Asli M. - 2011
Lifecycle theories of mergers and diversification predict that firms make acquisitions and diversify when their …
Persistent link: https://www.econbiz.de/10013119963
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Tobin's Q, Corporate Diversification and Firm Performance
Lang, Larry H.P. - 2002
In this paper, we show that Tobin's q and firm diversification are negatively related. This negative relation holds for … different diversification measures and when we control for other known determinants of q. We show further that diversified firms … number of segment constant. Our evidence is consistent with the view that firms seek growth through diversification when they …
Persistent link: https://www.econbiz.de/10012787492