When regulation forces a board to become more independent than endogenously determined, the CEO may counteract by strengthening connectedness with other key players governing the firm. We find the independent board regulation triggered an increase in the fraction of top-executives appointed...

We find the confluence of CEO-same industry experience makes independent directors particularly helpful in enhancing value-added growth and we identify a channel: guidance toward higher valued-added R&D investments and higher quality innovations. Further corroborating these inferences, we find...

The executive suite and the board are closely bound to each other through their fiduciary responsibility to same shareholders. With CEOs' prominent role in both governing bodies, their independence from CEOs' self-serving behavior might be related to each other. We explore the interdependence...