Managerial remuneration in companies has been a subject of wide academic interest and has been discussed and debated upon, not only in India but across jurisdictions. The determinants of optimum managerial remuneration are not only limited to strict legal or commercial issues, but spread to...

It is widely believed that the ideal board in corporations is composed almost entirely of independent (outside) directors. In contrast, this paper shows that some lack of board independence can be in the interest of shareholders. This follows because a lack of board independence serves as a...