This paper examines the impact of independent director busyness on firm value in a setting that addresses a key challenge that the board of directors is an endogenously determined institution. We use the deaths of directors and CEOs as a natural experiment to generate exogenous variation in the...

Analyses of bank performance around the 2007-2008 financial crisis suggest that outside directors with financial experience acquired through longer board service at their own banks are more effective than those with financial experience attained elsewhere. Institutions with more long-tenured...

Gow, Wahid and Yu (2018) (henceforth GWY) examine how directors' reputation concerns influence the proxy statement disclosure of their business experience. They find that reputation concerns combine with lax disclosure requirements to cause directors' employment at troubled firms to be omitted...