We address whether managers impact firm performance for better or worse, tackling three difficult empirical challenges … available from standard corporate finance datasets. We find managers strongly improve performance through channels of increased …

-level management, such as vice presidents, increase default risk significantly. In contrast, shareholdings of outside directors and … investigate the impacts of bank ownership and management structures on the probability of default of US commercial banks. Our … chief officers (managers with a “chief officer” position, such as the CEO, CFO, etc.) do not have a direct impact on the …

outside directors and upper-level management to control and reduce risk, while greater stakes for lower-level management seem … management structures on the probability of default. The results show that defaults are strongly influenced by a bank's ownership … structure: high shareholdings of outside directors and chief officers (managers with a “chief officer” position, such as the CEO …

. Exploiting a unique dataset, we show how age, gender, and education composition of executive teams affect risk taking of … younger executive teams increase risk taking, as do board changes that result in a higher proportion of female executives. In … contrast, if board changes increase the representation of executives holding Ph.D. degrees, risk taking declines. -- Banks …

. Exploiting a unique dataset, we show how age, gender, and education composition of executive teams affect risk taking of … younger executive teams increase risk taking, as do board changes that result in a higher proportion of female executives. In … contrast, if board changes increase the representation of executives holding Ph.D. degrees, risk taking declines …

Social capital theory predicts individuals establish social ties based on homophily, i.e., affinities for similar …

Social capital theory predicts individuals establish social ties based on homophily, i.e., affinities for similar …