We examine team diversity and performance using the asset management industry as a laboratory. Employing political affiliation as a proxy, we find ideologically diverse teams perform better than homogeneous teams. The mechanism involves both improved decision-making due to more diverse...

We investigate corporate governance experts' claim that it is detrimental to a firm to reappoint former CEOs as directors after they step down as CEOs. We find that more successful and more powerful former CEOs are more likely to be reappointed to the board multiple times after they step down as...

Following surprise independent director departures, affected firms have worse stock and operating performance, are more likely to restate earnings, face shareholder litigation, suffer from an extreme negative return event, and make worse mergers and acquisitions. The announcement returns to...