Board of Directors

Working Paper

Shareholders and Stakeholders around the World: The Role of Values, Culture, and Law in Directors’ Decisions

This study sets out to examine the relative importance of legal versus cultural institutions and personal values for strategy and corporate governance. We present first evidence on the way personal and institutional factors together guide public...Read more

Amir Licht
Renee Adams
24 June 2019

Why Do Boards Exist? Governance Design in the Absence of Corporate Law

We study how owners trade off costs and benefits of establishing a board in a historical setting, where boards are optional and authority over corporate decisions can freely be allocated across the general meeting, the board, and management. We...Read more

Mike Burkart
Salvatore Miglietta
Charlotte Ostergaard
25 April 2017

The Present and Future of Corporate Governance: Re-Examining the Role of the Board of Directors and Investor Relations in Listed Companies

In this paper, we first shed light on the factors that underlie the differences between the ?shareholder wealth maximization? and the ?long-term commitment? models of corporate governance. By introducing a third type of governance model, we show...Read more

Joseph McCahery
Erik Vermeulen
01 May 2013

Pages