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  • Influence
Powerful CEOs and Their Impact on Corporate Performance
Executives can only impact firm outcomes if they have influence over crucial decisions. Based on this idea we develop and test the hypothesis that firms whose CEOs have more decision-making powerExpand
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Understanding the Relationship between Founder-CEOs and Firm Performance
We use instrumental variables methods to disentangle the effect of founder–CEOs on performance from the effect of performance on founder–CEO status. Our instruments for founder–CEO status are theExpand
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One Share, One Vote: The Empirical Evidence
We survey the empirical literature on disproportional ownership, i.e. the use of mechanisms that separate voting rights from cash flow rights in corporations. Our focus is mostly on explicitExpand
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Do Directors Perform for Pay
Many corporations reward their outside directors with a modest fee for each board meeting they attend. Using a large panel data set on director attendance behavior in publicly-listed firms for theExpand
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Board Structure and Price Informativeness
We develop and test the hypothesis that stock price informativeness affects the structure of corporate boards. We find a negative relation between price informativeness and board independence. ThisExpand
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Incentives to Innovate and the Decision to Go Public or Private
We model the impact of public and private ownership structures on firms' incentives to invest in innovative projects. We show that it is optimal to go public when exploiting existing ideas andExpand
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What Determines the Composition of Banks' Loan Portfolios? Evidence from Transition Countries
This paper explores how bank characteristics and the institutional environment influence the composition of banks’ loan portfolios. We use a new and unique data set based on the EBRD BankingExpand
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Board diversity: : Should we trust research to inform policy?
R esearch on board diversity has received much attention recently. This is a natural consequence of the fact that female representation on corporate boards has risen to the top of policy agendas. ItExpand
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Moderation in Groups: Evidence from Betting on Ice Break-Ups in Alaska
We use a large sample of guessed ice break-up dates for the Tanana River in Alaska to study differences between outcomes of decisions made by individuals versus groups. We estimate the distributionExpand
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Democracy and the Variability of Economic Performance
Sah (1991) conjectured that more centralized societies should have more volatile economic performances than less centralized ones. We show in this paper that this is true both for cross-country andExpand
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