We study how interest alignment between CEOs and corporate boards influences investment efficiency and identify a novel force behind the benefit of misaligned preferences. Our model entails a CEO who encounters a project, gathers investment-relevant information, and decides whether or not to...

I collect 1,186 reported estimates of long-run value creation from 49 studies and present the first meta-analysis of the literature on shareholder activism and its effect on firm value in the longrun. This synthesis is necessary because shareholder activism is increasing over time and across...

This paper shows the advantages of staged investments for venture capitalists.

This study examines the governance attributes of post-IPO (initial public offering) retained ownership of private equity in business group constituent firms in contrast to their unaffiliated counterparts, in 202 newly listed firms in 22 emerging African economies. We adopt an actor centred...

Many believe that deliberative democracy, where individuals discuss alternatives before voting on them, should result in collectively superior outcomes because voters become better informed and decisions are justified using reason. These deliberations typically involve a moderator, however,...

One of the key processes that business leaders are using to grow their organizations is mergers and acquisitions (M&A). As such, the M&As are considered as a critical process with considerable implications for the company's profitability and growth. Still, between 70 to 90 percent of the M&As...

This paper gauges, both qualitatively and quantitatively, the pertinent variables to corporate governance practices and their relationship to business productivity in the context of the Kingdom of Saudi Arabia. This study was conducted in response to the limited literature in this context. A new...