We investigate whether board independent directors mitigate firm’s securities litigation risks. We further analyze this inquiry with special attention to firm’s complexity, monitoring costs, and the relative benefits and costs of board independence. Separate and combined analyses of these...

The general regulatory framework in the United States relating to corporate governance issues and the rights, duties and liabilities of corporate directors is quite complex and draws on several different bodies of law, including the state corporations law of the state in which the corporation...