Author pages are created from data sourced from our academic publisher partnerships and public sources.
- Publications
- Influence
Endogenously Chosen Boards of Directors and Their Monitoring of the CEO
- Benjamin E. Hermalin, M. Weisbach
- Business, Economics
- 4 September 1998
How can boards be chosen through a process partially controlled by the CEO, yet, in many instances, still be effective monitors of him? The authors offer an answer based on a model in which board… Expand
Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature
- Benjamin E. Hermalin, M. Weisbach
- Business
- 15 June 2000
The authors identify the primary findings of the empirical literature on boards of directors. Typically, these studies have sought to answer one of the following questions: How are the… Expand
The Effects of Board Composition and Direct Incentives on Firm Performance
- Benjamin E. Hermalin, M. Weisbach
- Economics
- 24 January 1991
This paper examines the relationship between top management compensation and corporate performance in public utilities. Previous researchers have argued that incentives for profitability are not… Expand
The Determinants of Board Composition
- Benjamin E. Hermalin, M. Weisbach
- Economics
- 24 January 1988
We identify factors that lead to changes among corporate directors. We hypothesize that the CEO succession process and firm performance will affect board composition. Our findings are consistent with… Expand
Trends in Corporate Governance
- Benjamin E. Hermalin
- Business
- 3 September 2003
The popular press and scholarly studies have noted a number of trends in corporate governance. This article addresses, from a theoretical perspective, whether these trends are linked. And, if so,… Expand
Toward an Economic Theory of Leadership: Leading by Example
- Benjamin E. Hermalin
- Sociology, Economics
- 7 May 1997
This paper explores leadership within organizations. Leadership is distinct from authority because following a leader is a voluntary rather than coerced activity of the followers. This paper… Expand
Information Disclosure and Corporate Governance
- Benjamin E. Hermalin, M. Weisbach
- 30 January 2011
In public-policy discussions about corporate disclosure, more is typically judged better than less. In particular, better disclosure is seen as a way to reduce the agency problems that plague firms.… Expand
Board of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature. (Part 1: A Review of the Literature on Corporate Governance)
- Benjamin E. Hermalin, M. Weisbach
- Economics
- 1 April 2003
1. INTRODUCTION Most organizations are governed by a board of directors. In fact, having a board is one of the legal requirements for incorporation. Many nonincorporated entities also have a… Expand
- 497
- 26
The Role of Boards of Directors in Corporate Governance: A Conceptual Framework & Survey
- Renée B. Adams, Benjamin E. Hermalin, M. Weisbach
- Engineering
- 10 November 2008
This paper is a survey of the literature on boards of directors, with an emphasis on research done subsequent to the Hermalin and Weisbach (2003) survey. The two questions most asked about boards are… Expand
Contract Renegotiation and Options in Agency Problems
- A. Edlin, Benjamin E. Hermalin
- Business, Economics
- 1 October 1998
This article discusses the ability of an agent and a principal to achieve the first-best outcome when the agent invests in an asset that has greater value if owned by the principal than by the agent.… Expand