Minton, Bernadette; Taillard, Jerome P. A.; Williamson, … - Charles A. Dice Center for Research in Financial … - 2010
We examine how risk taking and firm value are related to board independence and financial expertise for a broad sample of U.S. financial institutions during the 2001 to 2008 period. Market-based measures of risk are negatively related to the percent of independent directors, while market-based...