Motivated by the challenge in the director turnover literature to distinguish between board-initiated dismissals (i.e., ‘clean house’) and director-initiated departures (i.e., ‘jump ship’), we study director turnover in firms local to terrorist attacks (hereafter, TA firms). We argue...

We examine whether pay differentials between the chief executive officer (CEO) and vice presidents (VPs) can be explained by firms’ strategic priorities. We find that firms that pursue prospector-type strategies have a larger CEO−VP difference in equity compensation. We argue that such a pay...