Trends in Corporate Governance

  title={Trends in Corporate Governance},
  author={Benjamin E. Hermalin},
The popular press and scholarly studies have noted a number of trends in corporate governance. This paper addresses the broad question of whether these trends are linked. And, if so, how? The paper finds that a trend toward greater board diligence will lead to trends toward more external candidates becoming ceo, shorter tenures for ceos, more effort being expended by ceos (equivalently less perquisite consumption), and greater ceo compensation. 
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