A substantial academic and popular literature argues that the performance of American corporations might improve if American corporations had long-term outside investors (relational investors) who would hold large stakes, actively monitor management performance, and engage with management in...

A substantial academic and popular literature argues that the performance of American corporations might improve if American corporations had long-term outside investors (relational investors) who would hold large stakes, actively monitor management performance, and engage with management in...

The boards of directors of American public companies are dominated by independent directors. Many commentators and institutional investors believe that a quot;monitoring board,quot; composed almost entirely of independent directors, is an important component of good corporate governance. The...

We review here the evidence, principally from the United States, on the relationship between board independence and firm behavior and performance. Board composition affects board behavior on a number of discrete board tasks. However, there is no strong evidence that higher board independence...

The boards of directors of American public companies are dominated by independent directors. Many commentators and institutional investors believe that a quot;monitoring board,quot; composed almost entirely of independent directors, is an important component of good corporate governance. The...

The following article adapts and consolidates two comment letters submitted last spring by a group of twenty-two professors of finance and law on the SEC’s proposed climate change disclosure rules. The professors reiterate their recommendation that the SEC withdraw its proposal as legally...