CEO succession at many companies occurs in a black box. Shareholders are not privy to boardroom discussions prior to the announcement of a CEO departure, and press releases announcing the change contain boilerplate language that does not make it clear whether the CEO stepped down voluntary or...

The dialogue of the board and its chairman with investors is an established practice in many countries, such as the United Kingdom, the USA, the Netherlands, Belgium, France and recently also Germany. In the UK this dialogue covers the whole range of relevant board topics, certainly including...

How should the governance system in a non-membership non-profit organization be designed? This organizational form has no shareholders; instead, donors provide funds. Thus, at the organizational level the board of directors could have all the power. Under this legal form, who controls the board?...

This paper examines the determinants of board independence in the banking sector of Bangladesh. The study applies a multivariate panel regression analysis for the thirty banks listed with DSE covering the period from 2006 to 2016. We use the proportion of independent directors to total number of...

This Working Paper summarises the main findings of an interview exercise that was conducted with the Chairs and other key board members in state-owned enterprises (SOEs) owned by OECD member governments. The work was part of an ongoing exercise in developing OECD best practices for organising...

We show that one third of S&P 1500 firms have private equity (PE) professionals on their boards. PE director appointments are followed by changes in firm investment policies; specifically, by significant declines in R&D outlays, capital expenditures, and innovation activity of public firms. PE...

This paper investigates private equity value creation strategies through operational engineering. To examine this, I define a KPI framework typically favored by private equity firms. I apply propensity score matching to a dataset of European PE transactions compared to non-PE backed companies to...

The picture of the securities exchanges and financial sectors in CEE countries is still relatively unfavorable. The CEE securities exchanges – with the only exception of the Warsaw Stock Exchange – are, in comparison with their western counterparts, underdeveloped and less important for the...

This paper sets forth a new perspective to address some problems that arise from the mixed governance nature of a state-owned bank. Firstly, it stresses that the principle of subsidiarity is at the root of decision-making processes in which the bank involves itself on the grounds of political...

This paper provides empirical evidence that campaign contributions arestrongly associated with market expectations of future firm-specific political favors,including preferential access to external financing. Using a novel dataset, we find thatfirms in Brazil providing contributions in the 1998...