In today's world of corporate governance, the board of directors of a publicly held firm (public company) will almost certainly be made up of a majority of independent directors. Armed with such independence, it is hoped that corporate boards can better monitor for managerial opportunism and...

While reference to "fiduciary duties" (plural) is routinely employed in the United States as a convenient short-hand for a corporate director's duties of care and loyalty, other common-law countries generally treat loyalty as the sole "fiduciary duty." This contrast prompts some important...

The board governance system is a major corporate governance difference between jurisdictions. While functional convergence and hybrid convergence of national board systems now seem prevalent, China's board reforms present a unique pattern of change in formal board governance rules. On the one...

This dissertation consists of three articles striding topics from corporate governance to asset pricing. It seeks to understand the costs and benefits of better corporate governance, and how assets such as real estate are priced. My ultimate focus is on corporate governance on both sides of the...