Recent surveys show that 24% of independent directors in Russel 3,000 firms have continuously served on their boards for fifteen years or more. Based on a sample of S&P 1500 firms over the period 1998-2012, we document strong positive effects on financial performance for firms with one, very...

Board room quotas have recently received an increasing amount of attention. This paper provides novel evidence on firm performance from an exogenous change in female board participation in Sweden. We use the credible threat, aimed at listed firms, of a quota law enacted by the Swedish deputy...

This article examines role of peer effects in determining corporate board structures. We use differences in new guidelines by NYSE and NASDAQ post Sarbanes-Oxley to construct a novel instrument to estimate our peer effects model. We find a strong presence of peer effects in determining board...

We use the 2003 NYSE and NASDAQ listing rules concerning board and committee independence as a quasi-natural experiment to examine the causal relations between board structure and CEO monitoring. Noncompliant firms forced to raise board independence or adopt a fully independent nominating...

The proportion of women in boardroom has traditionally been low around the world. Over the last decades, several jurisdictions have adopted legislative actions in order to trigger a tangible progress in female representation, also moving from the assumption that gender balanced boards result in...

We show that board tenure exhibits an inverted U‐shaped relation with firm value and accounting performance. The quality of corporate decisions, such as M&A, financial reporting quality, and CEO compensation, also has a quadratic relation with board tenure. Our results are consistent with the...

We analyze if the empirical research on the consequences of a board's gender diversity is affected by a specific measurement bias in Tobin's Q: the value bias in corporate debt (VBCD). Book values of corporate debt are a more downward biased proxy of the market values of debt if increased...

Increasingly more and more emerging economies have been reforming their corporate governance structure to bring more independence and accountability to the board of directors and better disclosure norms to safe guard the interests of the investors. In Indian context, the corporate governance...

This study examines the association between board diversity and corporate risk taking. Research on board diversity has focused on gender diversity, leaving board diversity beyond gender diversity largely unexplored. We construct diversity indexes to measure board diversity in multiple...

We show that board tenure exhibits an inverted U-shaped relation with firm value and accounting performance. The quality of corporate decisions, such as M&A, financial reporting quality, and CEO compensation, also has a quadratic relation with board tenure. Our results are consistent with the...