Korean Abstract:미국의 변동성지수(VIX)는 주식시장의 불확실성에 따른 변동가능성을 나타내는 지표 로 S&P500 지수옵션의 향후 30일간의 변동성에 대한 투자자들의 기대를 나타낸다. 본 연구는 VIX가 국내주식시장의 주가수익률에...

Classified boards actually benefit firms that have low monitoring costs and greater needs for advisory services. Previous literature has emphasized the entrenchment effect of classified boards. However, we find that this adverse impact of classified boards can be offset or even superseded by the...

This paper examines the impact of multiple directorships on stockholder wealth around the announcements of mergers and acquisitions. Grounded in agency theory, we argue that multiple directorships affect the quality of managerial oversight and thus influence agency conflicts in acquisition...