Independent Directors

Working Paper

Bank Governance

According to a common narrative, in addition to inadequate capital and liquidity, the failure of banks in the financial crisis also reflected their poor governance. By governance we mean broadly the oversight that comes from banks? own...Read more

John Armour
Paul Davies
Luca Enriques
Jeffrey Gordon
Colin Mayer
01 June 2016

Reputation Incentives of Independent Directors: Impacts on Board Monitoring and Adverse Corporate Actions

We find a large body of evidence that independent director reputation incentives can vary across directors and can significantly influence important board decisions and firm outcomes. Firms with a greater proportion of independent directors where...Read more

Ronald Masulis
01 July 2013