This paper uses legal board size requirements to test whether board size affects firm performance and value. Since 1976, the minimum size of German...
We survey directors and investors on the objectives, constraints, and determinants of CEO pay. 67% of directors would sacrifice shareholder value to...
Does enhanced shareholder liability reduce bank failure? We compare the performance of around 4,200 state-regulated banks of similar size in...
We study the market for CEOs of large publicly-traded US firms, analyze new CEOs’ prior connections to the hiring firm, and explore how hiring choices...
Research highlight
The Review of Financial Studies, 34 (2), 569-617
This paper revisits the relationship between firm performance and CEO turnover. We drop the distinction between forced and voluntary turnovers and...
This paper reviews the theoretical and empirical literature on executive compensation. We start by presenting data on the level of CEO and other top...
