In this paper, we review the theoretical and empirical literature on measuring the top management quality of firms, and its relation to various aspects of corporate financial policies and corporate innovation, and draw policy implications for enhancing corporate innovation. First, we discuss how...

We show that cross-border LBO investments involving U.S. rather than non-U.S. private equity (PE) investors are more likely to have a successful exit (IPO or acquisition). Exogenous increases in effective proximity following the signing of “Open-Sky” agreements between the U.S. and target...

We model a corporate board evaluating a CEO of uncertain management ability. Each director receives a noisy private signal about CEO ability, after which directors discuss this ability and vote to retain or replace the CEO. Directors care about true CEO ability, since it affects their equity...

We analyze the relationship between top management team human capital (“management quality”) and long-run firm performance using panel data from BoardEx. We control for the potentially endogenous matching between firm and management quality using as instrument a plausibly exogenous shock to...

We analyse the relationship between the extent of a firm’s corporate social responsibility (CSR) and its long-term survival probability. We conjecture that a better CSR rating is associated with a lower probability of corporate failure and a longer survival period. Consistent with this, we...

We analyse the relationship between the extent of a firm's corporate social responsibility (CSR) and its long-term survival probability. We conjecture that a better CSR rating is associated with a lower probability of corporate failure and a longer survival period. Consistent with this, we...