The paper discusses key elements of optimal central bank design and applies its findings to the Eurosystem. A particular focus is on the size of monetary policy committees, the degree of centralization, and the representation of relative economic size in the voting rights of regional (or...

The paper discusses key elements of optimal central bank design and applies its findings to the Eurosystem. A particular focus is on the size of monetary policy committees, the degree of centralization, and the representation of relative economic size in the voting rights of regional (or...

Independent director system is viewed as a mechanism to prevent large shareholders’ rent-seeking in companies. However, little attention has been drawn on the possibility that board structure itself may be manipulated by large shareholders for private interests. Using the percentage of...