This paper documents several significant correlations between the variability of stock returns, the structure of director compensation and the gender diversity of corporate boards. In a crosssectional sample of boards of directors of 1024 publicly traded firms in fiscal year 1998, we find three robust results: (1) firms facing more variability in their stock returns have fewer women on their bo...

The wave of private equity deals has refocused attention on the role of the board of directors. There has now been sufficient experience and adaptation to identify some of the key issues for directors who― as in other takeover contexts― act as gatekeepers on the fundamental question of whether, and under what circumstances, a proposal for the sale of the company should be put before the stockho...

Many corporations reward their outside directors with a modest fee for each board meeting they attend. Using a large panel data set on director attendance behavior in publicly-listed firms for the period 1996–2003, we provide robust evidence that directors are less likely to have attendance problems at board meetings when board meeting fees are higher. This is surprising since meeting fees, on ...

This study empirically examines the association between certain of director of director characteristics and the extent of voluntary audit committee disclosure in annual reports. This study focuses on board of director characteristics because as the audit committee is a major standing committee of the board, it is likely directors will be directly interested and affected by disclosures related t...

Scholars and practitioners are interested in board effectiveness, yet we know relatively little about directors’ engagement in the boardroom. We integrate identity theory and social identity theory research with literature on board monitoring and resource provision to model how directors’ multiple identities affect their behavior. We propose that directors’ strength of identification with multi...

We use a bargaining framework to examine empirically the relations between director compensation and board-of-director independence. Our evidence suggests that independent directors have a bargaining advantage over the CEO that results in compensation more closely aligned with shareholders’ objectives. Firms with more outsiders on their boards award directors more equity-based compensation. Whe...

This paper develops a model of communication and decision-making in corporate boards. The key element of the paper is that the quality of board communication is endogenous, because it depends on the e¤ort directors put into trying to communicate their information to others. In the model, directors may have biases regarding board decisions and may also be reluctant to disagree with other directo...

aim of the present research was to design a proper model for management of knowledge in environmental organizations of country. in study of the model, suitability of the proposed model was researched by asking views of directors, deputies, managers of groups and scientific board members of environmental organizations of country. for this purpose, with review of research literature, insight pro...

We link genetic diversity in the country of origin of the firms’ board members with corporate performance via board members’ nationality. We hypothesize that our approach captures deep-rooted differences in cultural, institutional, social, psychological, physiological, and other traits that cannot be captured by other recently measured indices of diversity. Using a panel of firms listed in the ...