Recent research focuses on explaining the diversification discount. However, there is little direct evidence regarding the relation among ownership structure, corporate governance, and corporate diversification. The results in this paper suggest that agency issues do not account for firms...

Our paper examines whether holding multiple outside board seats compromises a director's ability to effectively perform monitoring duties. Analyzing over 1400 firms, we report that individuals who hold more outside directorships serve on fewer board committees. The relation, however, appears...

Licenses received, licenses given, and cross licenses are strategic responses by firms seeking to exchange proprietary information. This paper provides estimates of the capitalized value of gains associated with both domestic and international licensing agreements between non-affiliated firms,...