What Matters in Corporate Governance?

@article{Bebchuk2004WhatMI,
  title={What Matters in Corporate Governance?},
  author={L. Bebchuk and A. Cohen and A. Ferrell},
  journal={Harvard Law School},
  year={2004}
}
  • L. Bebchuk, A. Cohen, A. Ferrell
  • Published 2004
  • Harvard Law School
  • We investigate which provisions, among a set of twenty-four governance provisions followed by the Investor Responsibility Research Center (IRRC), are correlated with firm value and stockholder returns. Based on this analysis, we put forward an entrenchment index based on six provisions - four constitutional provisions that prevent a majority of shareholders from having their way (staggered boards, limits to shareholder bylaw amendments, supermajority requirements for mergers, and supermajority… CONTINUE READING
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