This study examines the effect of CEO-connected directors on firm value. Empirical analyses are conducted on US firms between 1999 and 2016 using a local supply of directors as an instrumental variable. CEO-connected directors contribute to the firm by resolving information asymmetry. I find...

Governance improvement measures often demand more financial experts on corporate boards. Directors from the lending bank require particular attention because the conflicts of interest between shareholders and debtholders would be severe. Hence, we examine whether commercial banker directors work...

Commercial banker-directors (CBDs) bring both financial expertise in risk management and conflicts of interest between shareholders and debtholders. The burgeoning literature on stock price crash risk generates important questions of whether CBDs reduce crash risk. Using BoardEx data from 1999...

Governance literature finds that the independent directors from the lending banks (CBDs) bring both financial expertise and conflict of interest between shareholders and debtholder. We examine how the presence of CBDs affects the implicit incentive of CEO turnover. Using BoardEx and DealScan...