This paper presents a model of optimal control of corporate boards of directors. We determine when one would expect inside versus outside directors to control the board, when the controlling party will delegate decision-making to the other party, the extent of communication between the parties, and the number of outside directors. We show that shareholders can sometimes be better off with an in...

As early as the 1970s there were attempts by the leadership of the AUR to recruit residency program directors, including private (community hospital) directors. The efforts did not go much beyond letters of invitation however, and at the time, complex membership requirements made it difficult for private directors to qualify. The first substantive effort began in the fall of 1984 when the late ...

In June 2001 the Australian Companies and Securities Advisory Committee issued a Discussion Paper that questions the frequency of insider trading and the need for further regulation. In the spirit of recent capital markets-based research in accounting, we address two questions in this paper. The first is whether and if so how, stock market prices react to information implicit in directors' trad...

BACKGROUND AND OBJECTIVES Family medicine faces declining student interest and funding. Predoctoral directors will help lead efforts to overcome these challenges. Academic success will be important for predoctoral directors to be effective leaders in academic health centers. We therefore sought to describe predoctoral directors and factors associated with their academic success. METHODS We ca...

This paper examines the effects of director labor markets at firm headquarter locations on board governance. We argue that firms can implement better board governance by drawing on local director talent when a larger pool of prospective directors (officers and directors of same-industry firms, financial institutions, and universities) is located near the firm. We find that firms located near la...

Objective. Our purpose was to investigate radiology fellowship directors' and recent fellows' experiences and perceptions with regard to the fellowship application and selection process and to compare these experiences and perceptions. Materials and Methods. Institutional review board approval was obtained. We conducted an online survey of the memberships of three radiology subspecialty societi...

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 purpose of this paper is to study the determinants of the presence of independent directors on boards of directors. Based on the agency theory, we study the different factors influencing the nomination of independent directors. The tests were applied to a sample of 79 companies belonging to the SBF120 index from 1999 to 2001. Using an OLS data regression framework, the findings show that th...

This paper examines the legal and strategic issues raised by the use of information systems in health maintenance organizations (HMOs) and other managed care organizations. Given the critical nature of information systems to an HMO's business success and regulatory compliance, the large financial investment HMOs make in their systems, and the widely publicized concerns over the year 2000 "mille...

When minority shareholder laws are strong, then minority shareholders should have more power to affect board composition and structure. Therefore, countries with strong minority shareholder laws should have ‘good’ corporate boards of directors (i.e., one that looks out for minority shareholders’ bests interests). Assuming that boards with independent directors and fewer directors are indicative...