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Risk Perceptions, Board Networks, and Directors' Monitoring
Ding, Wenzhi; Chen, Lin; Schmid, Thomas; Weisbach, … - National Bureau of Economic Research - 2021
What makes independent directors perform their monitoring duty? One possible reason is that they are worried about being sanctioned by regulators if they do not monitor sufficiently well. Using unique features of the Chinese financial market, we estimate the extent to which independent...
Persistent link: https://www.econbiz.de/10012585458
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Financial Expertise of Directors
Güner, A. Burak - 2006
The composition and functioning of corporate boards is at the core of the academic and policy debate on optimal corporate governance. But does board composition matter for corporate decisions? In this paper, we analyze the role of financial experts on boards. In a novel panel data set on board...
Persistent link: https://www.econbiz.de/10012466757
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Benefits of Control, Managerial Ownership, and the Stock Returns of Acquiring Firms
Hubbard, R. Glenn - 1995
This paper examines the effect of the benefits of corporate control to managers on the relationship between managerial … the acquiring firm increases, the interests of managers are more closely aligned with those of shareholders, reducing the … acquisition premium. At sufficiently high levels of managerial ownership, managers value a reduction in the risk of their …
Persistent link: https://www.econbiz.de/10012473808
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Corporate Governance and Risk Management at Unprotected Banks : National Banks in the 1890s
Calomiris, Charles W. - 2014
Managers' incentives may conflict with those of shareholders or creditors, particularly at leveraged, opaque banks …
Persistent link: https://www.econbiz.de/10012458857
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Corporate Ownership in France : The Importance of History
Murphy, Antoin E. - 2004
This paper attempts to show the importance of history in influencing the structure of corporate ownership in France. The strong concentration of family ownership in France is traced to historical weaknesses in the money and capital markets that forced families to have recourse to self-financing....
Persistent link: https://www.econbiz.de/10012467974
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Information Flows, Organizational Structure, and Corporate Governance
Malenko, Nadya - National Bureau of Economic Research - 2023
This survey provides an overview of theoretical and empirical research on information flows in corporations. It highlights key frictions preventing effective information flows and discusses how organizational structure and corporate governance can alleviate these frictions, focusing on three...
Persistent link: https://www.econbiz.de/10014287310
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Bankers on Boards : Monitoring, Conflicts of Interest, and Lender Liability
Kroszner, Randall S. - 1999
This paper investigates what factors determine whether a commercial banker is on the board of a non-financial firm. We consider the tradeoff between the benefits of direct bank monitoring to the firm and the costs of active bank involvement in firm management. Given the different payoff...
Persistent link: https://www.econbiz.de/10012471465
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Do Employees Benefit from Worker Representation on Corporate Boards?
Blandhol, Christine - 2020
Do employees benefit from worker representation on corporate boards? Economists and policymakers are keenly interested in this question - especially lately, as worker representation is widely promoted as an important way to ensure the interests and views of the workers. To investigate this...
Persistent link: https://www.econbiz.de/10012482488
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The Role of Boards of Directors in Corporate Governance : A Conceptual Framework and Survey
Adams, Renée - 2008
This paper is a survey of the literature on boards of directors, with an emphasis on research done subsequent to the Hermalin and Weisbach (2003) survey. The two questions most asked about boards are what determines their makeup and what determines their actions? These questions are...
Persistent link: https://www.econbiz.de/10012464161
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The Case Against Board Veto in Corporate Takeovers
Bebchuk, Lucian Arye - 2002
decisions, directors' superior information, bargaining by management, pressures on managers to focus on the short …-run, inferences from IPO charters, interests of long-term shareholders, aggregate shareholder wealth, and protection of stakeholders …
Persistent link: https://www.econbiz.de/10012469635