Most of the empirical studies on board remuneration have focused finding explanatory performance measures. There are that analyze if compensation contracts directors reward managers in such a way they strive to maximize firm and shareholders’ wealth; however, there few social aspect corporate governance, or agent–employee principal–employee relationships. Thus, this study, our aim is test wheth...

Beth A. Richmond, PhD, and Mark G. Richmond, EdD, Co-Executive Directors serving for the ABCP, have assumed this role for the past 30 years. Their experience working with a variety of perfusionists in the field influenced the profession and some of the professionals we view as perfusion leaders. Anyone with time working as a clinical perfusionist acknowledges the role they have had establishing...

The aim of this research is to explore the relationship of corporate governance with firm risk. This study establishes a link between corporate governance variables and firm risk for a sample of 106 Pakistani firms over a time of six years (20052010). Based on the estimation results, family control and bank control have negative impact on the firm risk whereas ownership structure and chairman/C...

W provide evidence that firms appoint independent directors who are overly sympathetic to management, while still technically independent according to regulatory definitions. We explore a subset of independent directors for whom we have detailed, microlevel data on their views regarding the firm prior to being appointed to the board: sell-side analysts who are subsequently appointed to the boar...

Diverse directors may have diverse preferences over firms’ policies or even objectives. As shown by Arrow (1951), diverse individual preferences may fail to univocally aggregate in collective preferences and may consequently lead to arbitrary and volatile decisions. Using the board of directors as a laboratory, we test whether diversity leads to higher performance volatility. We show that firms...

Much has been written about the phenomenon of ever-increasing executive pay in listed companies. This paper examines some of the underlying reasons for this continued increase in executive directors’ remuneration. It reports the results of 40 interviews with protagonists in the remuneration debate in FTSE 350 companies, exploring the types of change made and the reasons given for these changes....