Das internationale Bankensystem stand in den vergangenen Jahren im Fokus des öffentlichen Interesses. Bei der Diskussion möglicher Optionen zur Verbesserung der Finanzsystemstabilität rückt zunehmend die Corporate Governance in Banken in den Fokus. Der vorliegende Forschungsbericht widmet...

Outside directors and audit committees are widely considered to be central elements of good corporate governance. We use a 1999 Korean law as an exogenous shock to assess how board structure affects firm market value. The law mandates 50% outside directors and an audit committee for large public...

Chhaochharia and Grinstein (2009) estimate that CEO pay decreases by 17% more in firms whose boards were not compliant with the recent NYSE/NASDAQ independence requirements than in firms that were compliant. We document that 65% of the magnitude is driven by a single outlier. All our attempts to...

Chhaochharia and Grinstein (JF, 2009) estimate that CEO pay decreases by 17% more in firms that were not compliant with the recent NYSE/NASDAQ board independence requirement than in firms that were compliant. We document that 74% of this magnitude is attributable to two outliers out of 865...

Using Chhaochharia's and Grinstein's (JF, 2009) data and methodology, Guthrie, Sokolowsky, and Wan (JF, 2010) document that compensation committee independence leads to an increase in executive pay, and that the increase is concentrated in firms with powerful monitors. These findings stand in...

[enter Abstract Body]We use a sample of randomly selected CRSP-listed firms to explore the cross-sectional determinants of corporate board size. We find that the average number of directors on boards differs significantly across industries. Further evidence indicates that these differences are...

We study the effect of corporate board structure on firm performance under different product market conditions. Using customer-supplier links to identify exogenous downstream demand shocks, we find that board independence has a more significant effect on firm performance when the firm-specific...

This paper analyses the performance consequences of board structure changes in Ghana for the study period 2000 to 2009. We predict that board structure changes prompted by the introduction of the Ghanaian Code in 2003 should lead to better firm performance. The results show that duality...

Prior research shows that firms tend to recruit directors from the geographically-proximate area. Due to a limited supply of qualified individuals in a given area, firms located in close proximity have to share a limited pool of talented individuals. As a result, the larger the number of firms...