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In light of recent corporate scandals, numerous proposals have been introduced for reforming corporate governance. This paper provides a theoretical framework through which to evaluate these reforms. Unlike various ad hoc arguments, this framework recognizes that governance structures arise...
Persistent link: https://www.econbiz.de/10013224890
This paper surveys the economic literature on boards of directors. Although a legal requirement for many organizations, boards are also an endogenously determined governance mechanism for addressing agency problems inherent to many organizations. Formal theory on boards of directors has been...
Persistent link: https://www.econbiz.de/10013232428
This paper is a survey of the literature on boards of directors, with an emphasis on research done subsequent to the Hermalin and Weisbach (2003) survey. The two questions most asked about boards are what determines their makeup and what determines their actions? These questions are...
Persistent link: https://www.econbiz.de/10012754989
This paper surveys the economic literature on boards of directors. Although a legal requirement for many organizations, boards are also an endogenously determined governance mechanism for addressing agency problems inherent to many organizations. Formal theory on boards of directors has been...
Persistent link: https://www.econbiz.de/10012740703
This paper studies the governance of a sample of California hospitals. We document a number of empirical relations about hospital governance: The composition of the board of directors varies systematically across ownership types; poor performance and high administrative costs increase board...
Persistent link: https://www.econbiz.de/10012743217
This paper studies the governance of a sample of California hospitals. We find a number of empirical relations about hospital governance: The composition of the board of directors varies systematically across ownership types; poor performance and high administrative costs increase board...
Persistent link: https://www.econbiz.de/10012743383
Persistent link: https://www.econbiz.de/10012794659
Introduction: the study of corporate governance / Benjamin E. Hermalin, Michael S. Weisbach -- Aspects of the economics of organization with application to corporate governance / Benjamin E. Hermalin -- Assessing managerial ability: implications for corporate governance / Benjamin E. Hermalin,...
Persistent link: https://www.econbiz.de/10012794660
This paper is a survey of the literature on boards of directors, with an emphasis on research done subsequent to the Hermalin and Weisbach (2003) survey. The two questions most asked about boards are what determines their makeup and what determines their actions? These questions are...
Persistent link: https://www.econbiz.de/10012464161
An objective of many proposed corporate governance reforms is increased transparency. This goal has been relatively uncontroversial, as most observers believe increased transparency to be unambiguously good. We argue that, from a corporate governance perspective, there are likely to be both...
Persistent link: https://www.econbiz.de/10012465781