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...

External network ties between CEOs and directors in major U.S. corporations may limit the e¤ectiveness of internal corporate governance. Using comprehensive biographical data on the managers and directors of S&P 1500 companies, we identify connections between directors and their …rms’CEOs through external directorships, past employment, education, and other activities (e.g. golf clubs or charit...

the aim of this study was to fit regression equation of knowledge management and organizational effectiveness in iran sport organizations to determine the effect of knowledge management processes on organizational effectiveness. the statistical population consisted of all staff managers of the ministry of sport and youth, executive board of national olympic committee, staff managers of the nati...

The following statement was prepared by the Special Committee to Revise the Joint American Academy of Oral and Maxillofacial Radiology/American Association of Endodontists Position on Cone Beam-Computed Tomography, and approved by the AAOMR Executive Council and AAE Board of Directors in May 2015. AAOMR members may photocopy this position statement for distribution to patients or referring dent...

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...

Improving the regulation of banks has been at the centre of economic policy actions since the outbreak of the global fi nancial crisis. One of the many and conceptually very diff erent measures proposed is to improve the corporate governance of banks by setting qualifi cation standards for banks’ non-executive directors. To explore the rationale of such a regulation implemented in Germany, we c...

According to agency theory, the interests of shareholders are safeguarded only where different people occupying the two positions of the Chief Executive Officer (CEO) and the chairman of the board of directors. This implies that CEO duality (i.e. the CEO serves also as the board chairman) is negatively associated with corporate performance. However, empirical evidence is mixed with respect to t...

Performance Effects of Appointing Other Firms’ Executive Directors to Corporate Boards: An Analysis of UK Firms This paper studies the effect on company performance of appointing non-executive directors that are also executive directors in other firms. The analysis is based on a new panel dataset of UK companies over 2002-2008. Our findings suggest a positive relationship between the presence o...