This paper analyzes the consequences of the board's dual role as an advisor as well as a monitor of management. As a result of this dual role, the CEO faces a...
This article explores the rising tension between shareholder and director power in the common law world. First the article analyzes key arguments in the...
Stock market investors are becoming increasingly vocal about the diversity of corporate leadership teams, following a global trend to engage with...Read more
Many investors and governance experts believe that “skin in the game” of managers, i.e. substantial stock and option ownership of top management,...Read more
This paper studies managerial reaction to shareholder empowerment that strengthens shareholder voting, a form of direct democracy. We explore this...Read more
Does earnings management, even though legal, hamper investor trust in reported earnings? Or do investors regard earnings management as a way for...Read more
A major friction in capital markets are information asymmetries, which can lead to mispricing of shares. Such mispricing is of particular concern...Read more