In an environment with poor quality of Corporate Governance Mechanisms, the quality of directors’ attributes might exert an important role to improve firm’s value and performance. I developed an index to explore the quality of Board of Directors based on Brazilian and international corporate...

Departing from previous studies, this paper investigates the impact of corporate board diversity on corporate performance and executive pay within the context of MENA countries. Our sample includes a balanced panel of 600 firm-year observations, consisting of 100 individual firms drawn from 5...

We examine whether economic policy uncertainty (EPU) affects a board's chief executive officer (CEO) replacement decision. We find that high EPU reduces the likelihood of forced CEO turnover. Our results support the idea that performance assessment may be more difficult when uncertainty is high....

Extensive research finds that shareholder and CEO preferences affect demand for director services. We find a large body of evidence that independent director reputation incentives influence the supply of director services. These reputation incentives vary across firms and over time,...

This paper studies how hedge fund activism reshapes board monitoring, CEO incentives and compensation. I find that activists target CEOs who have co-opted the board, have poor performance records and weak equity portfolio incentives, are less subject to relative performance evaluation (RPE) but...

This paper analyzes how board independence affects a board's monitoring intensity and the CEO pay disparity. We consider a corporate tournament model with a novel feature that the board of directors may lack independence. This has significant implications for a board's monitoring and rewarding...

This study demonstrates that suitable professional expertise on corporate boards can have a significant impact on firm outcomes. The analysis examines diversity of expertise on boards, its link to shareholder value, and adds to the literature by introducing corporate life cycle and industry...

This study examines the influence of female board representation on CEO turnover and firm value. We focus on Russia, a patriarchal country with vast gender differences, where empathy, patience, and supportiveness are considered fundamental qualities of females. Using a sample of public firms...

We examine the influence of outside directors' industry experience on segment investment, segment operating performance, and firm valuation for conglomerates. Given board composition is endogenous, we instrument for the presence of industry expert directors using the supply of experienced...

Using a large sample of Chinese firms, we examine performance differences between firms with female and male chairs and the channels through which such differences arise. After controlling for the presence of female CEOs and non-chair female directors, we find that chairwoman firms perform...