Adams, Renee B.
[Verfasser:in]
;
Hermalin, Benjamin E.
[Sonstige Person, Familie und Körperschaft];
Weisbach, Michael S.
[Sonstige Person, Familie und Körperschaft]
The Role of Boards of Directors in Corporate Governance
Erschienen in:Charles A. Dice Center Working Paper ; No. 2008-21
Umfang:
1 Online-Ressource (69 p)
Sprache:
Nicht zu entscheiden
DOI:
10.2139/ssrn.1299212
Identifikator:
Entstehung:
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments April 10, 2009 erstellt
Beschreibung:
This paper is a survey of the literature on boards of directors, with an emphasis on research done subsequent to the Hermalin and Weisbach (2003) survey. The two questions most asked about boards are what determines their makeup and what determines their actions? These questions are fundamentally intertwined, which complicates the study of boards because makeup and actions are jointly endogenous. A focus of this survey is how the literature, theoretical as well as empirically, deals - or on occasions fails to deal - with this complication. We suggest that many studies of boards can best be interpreted as joint statements about both the director-selection process and the effect of board composition on board actions and firm performance