We consider the mechanism design problem when agents' types are multidimensional and continuous, and their valuations are interdependent. If there are at least three agents whose types satisfy a weak correlation condition, then for any decision rule there exist balanced transfers that render...

Institutional investors report that they prefer to invest in firms with greater board independencedespite the fact that researchers have been unable to demonstrate a link between boardindependence and firm performance. We investigate whether differences among institutionalinvestors affect these...

In this study, we examine firm and board characteristics that predict whether a new CEO will come from the firm's current management, from the board of directors, or from outside the firm. This study is the first to recognize the potential for outside board members to compete for the CEO...

Institutional investors report that they prefer to invest in firms with greater board independence despite the fact that researchers have been unable to demonstrate a link between board independence and firm performance. We investigate whether differences among institutional investors affect...