We examine the outside director selection process using unique data on appointments of academic directors. Overall, we find academic directors tend to be appointed by small- and mid-cap firms expanding their boards. However, we find important differences in both the factors influencing academic...

Prologue: the compensation committee meets -- Introduction: the battle over executive compensation -- Executive compensation in the U.S. corporate model -- The goals of executive compensation -- Our approach -- The myths and realities of pay for performance -- The realities of pay for...