We examine the effect of directors with extended tenure on corporate innovation. Using a sample of U.S. firms from 2001-2006, we find that firms with a higher portion of directors with extended tenure are associated with significantly lower innovation productivity and quality, as manifested in a...

We examine the effect of directors' and officers' liability insurance (D&O insurance) on the behavior of independent directors and the effectiveness of their governance role. Using a unique dataset, we find a negative relation between D&O insurance and personal board meeting attendance by...