The legal environment is one important determinant of corporate governance. However,  within  legal families,  also cultural  differences can explain the level of corporate governance to some extent. We analyze this relationship for the case of Switzerland.  Swiss firms  are mainly located...

The traditional methodology examining optimal boards relates a simple board variable  (e.g., independence or board demography) to firm performance, however, ig- noring other board characteristics.  This paper investigates how the education and business  experience of directors affect firm ...

Regulators and shareholders are calling for independent directors. Independent directors, however, have numerous external professional commitments. Using  To- bin’s Q as an approximation  of market valuation and controlling for endogeneity, our empirical analysis reveals that neither...