This thesis consists of three essays and studies CEO compensation and mergers and acquisitions in empirical corporate finance. The first essay is sole-authored and is titled ‘The Effect of Social Interactions on Executive Compensation.’ The second essay ‘The Role of Investment Banker Directors in M&A: Can Experts Help?’ is a joint work with Qianqian Huang, Erik Lie, and Ke Yang. The third essay...

Reformists argue that Japanese firms maintain inefficiently few outside directors, while theory suggests market competition should drive firms toward their firm-specifically optimal board structure (if any). The debate suggests three testable hypotheses. First, perhaps board composition does not matter. If so, then firm performance will show no relation to board structure, but outsiders will be...

The world-wide inflation in executive compensation in recent years has been accompanied by an increase in the prevalence of long-term incentives. This article demonstrates how the subjectively perceived value of long-term incentives is affected by risk aversion, uncertainty aversion, and time preferences. Based on a unique empirical study which involved collecting primary data on executive pref...

Superintendence, direction and control of preparation of electoral rolls for, and the conduct of elections, to Parliament and state legislatures and elections to the offices of President and Vic-President of India are vested in the Election Commission of India. It is an independent constitutional authority set up in pursuance of Article 324(1) of the Constitution of India. The literature on cor...

Copyright © 2005, American Society of Health-System Pharmacists, Inc. All rights reserved. 1079-2082/05/0402-0856$06.00. There is a pressing need to prepare health-system pharmacists for executive-level positions, motivate them to step into these roles and educate health-system administrators about the value a pharmacist in such a position could bring to his or her organization. To do this, the...

Tosi and Gomez-Mejia, (1989) suggest that the challenge of corporate governance is to set up supervisory and incentive alignment mechanisms that alter the risk and effort orientation of agents to align them with the interests of principals. Therefore, the objective of this study is to determine the efficiency of monitoring and incentive contracts given certain characteristics of the firm. That ...

NYSE and NASDAQ listed firms are required to have a majority of independent directors starting 2004. Since the regulation can weaken CEO influence over the board, affected CEOs may counter it by building a closely aligned team of top executives to strengthen their structural power. Using a differences-indifferences approach, we find that affected CEOs fill their executive suites with significan...