We use CEO health shocks as a time-varying and physical managerial attribute that can change the degree of managerial effort. Using hand-collected data on CEO illnesses, deaths, and medical leaves to identify large health shocks, we find that firm value is considerably lower and firm volatility,...

This paper examines the determinants of executive compensation in Chinese banking during 2005-2012. Using the fixed effects panel, 2SLS and dynamic GMM regressions, I find that there is no significant positive pay performance relation, and CEO power does not necessarily exhibit higher levels of...

Australian firms hire an increasing number of foreign directors who bring various cultural perspectives to their boards' conversations. We evaluate the effect of board cultural diversity contributed by foreign directors on firm performance for a sample of Australian companies, constituents of...