We analyze the announcement price behavior of independent director appointments stemming from monitoring, signaling, advising effects and moderating effects of controlling shareholders. Based upon appointments samples made by firms listed on the Taiwan Stock Exchange, we find that the cumulative...

This work comprehensively investigates from the perspective of corporate governance and behavioral finance whether the overconfident behavior of a CEO could drive a subsequent corporate default. Using matched samples of listed TSEC firms in Taiwan that had experienced corporate defaults. The...