In our paper ‘It’s Not So Bad: Director Bankruptcy Experience and Corporate Risk Taking,” we evaluate the extent to which a director’s corporate...Read more
The board of directors is the highest decision-making authority in a corporation. But sometimes boards struggle to make decisions. In surveys, 67...Read more
A central premise of corporate governance research is the shareholder collective action problem. Shareholders, the ultimate economic...Read more
To the best of our knowledge this is the first study to investigate whether the presence of female directors in the boardrooms of US corporations...Read more
Controversies over the right way to handle shareholder and stakeholder relations have never been deeper despite decades of debate. These...Read more
Can an algorithm assist firms in their hiring decisions of corporate directors? This paper proposes a method of selecting boards of directors that...Read more
CEO duality – the practice of combining the roles of the CEO and chairman of the board – has been the topic of one of the longest debates in...Read more
The past two decades have witnessed dramatic changes to the boards of directors of U.S. public corporations. Several recent governance reforms (...Read more
Prof. Robert M. Daines (Stanford Law School) presents his paper on "Can Staggered Boards Improve Value? Evidence from the Massachusetts Natural Experiment" at the 2016 GCGC Conference in Stockholm. Discussion of the paper is then presented by Prof. Renee Adams (UNSW Business School, University of New South Wales).
Prof. Steven Kaplan (University of Chicago Booth School of Business) presents his paper on "Are CEOs Different? Characteristics of Top Managers" at the 2016 GCGC Conference in Stockholm. Discussion of the paper is then presented by Prof. Dan Puchniak (National University of Singapore). The full paper and slides from this presentation can be downloaded here: www.gcgc.global
We present a model where firms compete for scarce managerial talent (“alpha”) and managers are risk-averse.
We present first evidence about individual and institutional factors that guide board members of public companies around the world in addressing the fundamental strategic problem of dealing with shareholders and stakeholders. In a sample comprising nearly nine hundred board members from some fifty countries of origin, we confirm that these corporate leaders hold a principled, quasi-ideological stance towards shareholders and stakeholders, dubbed shareholderism.