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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
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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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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
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Deadlock on the Board
Donaldson, Jason Roderick - 2019
We develop a dynamic model of board decision-making. We show that a board could retain a policy all directors agree is worse than an available alternative. Thus, directors may retain a CEO they agree is bad—a deadlocked board leads to an entrenched CEO. We explore how to compose boards and...
Persistent link: https://www.econbiz.de/10012864484
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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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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