This paper analyzes board independence and competence as distinct, but inextricably linked aspects of board effectiveness. Competent directors add shareholder value because they have better information about the quality of projects. While a CEO cares about shareholder value, he also wants his...

Part 1: Supply -- Chapter 1: Networks in a Firm: Why Firms -- Chapter 2: Networks in a Firm: Gabrielle's Barber Shop -- Chapter 3: Networks in a Firm: Separation of Ownership and Control -- Chapter 4: Networks in a Firm: Board of Directors -- Chapter 5: Fragility: The Urge to Build an Empire --...

Understanding the role of culture in corporate governance has become a subject of growing importance. Today, no institutional analysis of corporate governance systems would be complete without considering the cultural environment in which such systems are embedded. This paper provides an...

This paper reports the findings of a recent survey of 1019 individuals to learn about their commitment to and perceived value from personal and organizational higher purpose, and examines the implications of the findings for corporate governance and the stated corporate goal of shareholder value...

Risk disclosure is one of the practices of corporate governance. Disclosure of risk is an important aspect of a company’s financial reporting since it provides information on how various risks can occur, the company’s response to these risks, and the impact these risks have on the...