Managing the succession process by the hiring and firing of key executives is one of the important functions of a board of directors. In this research we study successions of fund managers in the closed-end mutual fund industry. The agency issues inherent in closed-end mutual funds makes them a...

While research has documented that board of director composition may be important in certain agency-related situations, the impact of board composition on overall financial performance is not at all clear. One problem may be that board of director composition and financial performance are...