We analyze the effects of supervisory board size and composition on the valuation and performance of all German firms listed in the DAX, MDAX and SDAX over the period 1998-2007 (n=294 companies with 2,382 firm-year-observations). Controlling for a large number of other (potential) determinants...

The debate on employee representation on corporate boards has received considerable attention from scholars and politicians around the world. We provide new insights to this ongoing discussion by applying power indices from game theory to examine the actual voting power of employees on boards...