Belot, François; Ginglinger, Edith; Slovin, Myron B.; … - In: Journal of Financial Economics 112 (2014) 3, pp. 364-385
We examine board structure in France, which since 1966 has allowed firms the freedom to choose between unitary and two-tier boards. We analyze how this choice relates to characteristics of the firm and its environment. Firms with severe asymmetric information tend to opt for unitary boards;...
