We study if a CEO's equity-based compensation affects the expected value generation in takeovers. When the objectives of management and shareholders are more aligned, as proxied by the use of equity-based compensation, more value-maximizing acquisitions are expected. Whereas in widely-held firms...

We study the transfer of governance across countries through overlapping boards. Companies converge to the governance characteristics and board practices of foreign firms through their directors' foreign board experiences. Learning from foreign firms' governance practices is as important as...

We find that the directorial labor market's ability to align the incentives of managers and shareholders depends on the aggregate level of investor protection in a country. If a country's corporate governance environment is strong and boards are likely to protect the interest of shareholders, a...

I examine how cross-sectional differences in national culture dimensions affect the probability of CEO turnover and its sensitivity to firm performance after cross-listing by a non-U.S. firm in the United States. I find that three of the Hofstede indexes (long-term orientation, power distance,...

We use the exposure of U.S. firms’ directors to the staggered introduction of sustainability disclosure reforms in foreign countries to study the role of the board of directors in shaping corporate sustainability. Using a difference-in-differences design, we document that the board has a...

We study if a CEO's equity-based compensation affects the expected value generation in takeovers. When the objectives of management and shareholders are more aligned, as proxied by the use of equity-based compensation, more value-maximizing acquisitions are expected. Whereas in widely-held firms...

This study examines the effects of CEO global reputation on cross-border M&A performances. Based on the CEO's Twitter accounts, we hand-collect the information about the CEO’s followers to measure their global reputation. We find that CEOs with better global reputations improve cross-border...

Central bank governor changes in emerging markets may convey important signals about future monetary policy. Based on a new daily data set, this paper examines the reactions of foreign exchange markets, domestic stock market indices and sovereign bond spreads to central bank governor changes....

This paper evaluates the relative financial managerial performance of thirty matched-pairs of US firms and Chinese (CN) firms. In this study, financial managerial performance is measured in terms of profitability, debt management, and asset management. Paired comparison is employed and eight...