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This study investigates the importance of corporate boards by exploiting the predictions from a learning model in which … arrival of a new director, uncertainty about governance quality accounts for 9.5% of return volatility. The learning framework …
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We examine whether corporate directors learn from environmental engagements by studying the success and implementation of environmental shareholder proposals. We deem a proposal successful when the proposal sponsor withdrew it after negotiating with the target firm. Our results indicate that...
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