• Publications
  • Influence
Outside directors, board independence, and shareholder wealth☆
Abstract Management plays a dominant role in selecting outside directors, inviting skepticism about outsiders' ability to make independent judgments on firm performance. Our examination of wealthExpand
  • 1,823
  • 66
Inside directors, board effectiveness, and shareholder wealth
Abstract We investigate whether inside managers are added to corporate boards for efficiency or entrenchment purposes. Our examination of inside director appointments finds that the stock-marketExpand
  • 395
  • 13
Shareholder wealth effects when an officer of one corporation joins the board of directors of another
Officers of large corporations, having demonstrated expertise in managing complex organizations, would appear to be ideal additions to the boards of directors of other corporations. ShareholderExpand
  • 67
  • 2
The value of financial outside directors on corporate boards
Abstract The appointment of a financial outside director to the board of a public corporation is associated with positive abnormal returns, attributable entirely to the smaller than median-size firmsExpand
  • 55
  • 2
  • PDF
Ambiguity, hubris, and merger bids