This paper explores how board composition influences the conflict of interest between principals and agents, the production of information for monitoring and advice, and the board's effectiveness as a decision-maker. Paying particular attention to the board's independence, information...

This paper analyzes the economic rationale for board regulation in place and for introducing new regulation in the future. We relate the value of the firm to the use of employee directors, board independence, directors with multiple seats, and to gender diversity. Our evidence shows that the...