Adams, Renee; Hermalin, Benjamin E.; Weisbach, Michael S. - Charles A. Dice Center for Research in Financial … - 2009
This paper is a survey of the literature on boards of directors, with an emphasis on research done subsequent to the … 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 …