Expertise, Structure, and Reputation of Corporate Boards

Expertise, Structure, and Reputation of Corporate Boards

This paper studies the implications of directors’s expertise for optimal board structure. The expertise of directors is particularly important when the company’s management does not cooperate with the board, and directors must rely on their own judgment when making decisions. The results of this paper demonstrate that even when the board acts in its shareholders’best interests, its expertise ca...

Academic Expertise on Corporate Boards and Financial Reporting Quality

This study investigates the role of academics serving on corporate boards and firms’ financial reporting quality. Our study is motivated by the recent increase in the number of academics serving on corporate boards and the recent focus placed on corporate boards to increase governance standards in light of the corporate accounting scandals of the late 1990s and early 2000s. We test two competin...

Consensus, Control and Corporate Boards∗

We investigate properties of shareholder-value maximizing corporate boards in situations where both the management and the board have expertise (or private information) relevant for the decision facing the corporation. We suppose that the board cannot directly monitor management in a way that eliminates distortions arising out of managerial agency. This creates a trade-off between improving inf...

Medical research oversight from the corporate governance perspective: comparing institutional review boards and corporate boards.

Corporate reputation: Meaning and measurement

Corporate reputation has attracted interest from a wide range of academic disciplines. It is also a growing focus for business and media attention. This paper examines the construct of corporate reputation, first by untangling the terminological problems that have been caused by the interdisciplinary nature of much of the earlier work in the area. The construct of reputation and the allied cons...