Purpose Historically, most CEOs were promoted from within the organization. The internal candidates offer continuity, are well known to the Board, and have deep institutional knowledge. However, if the Board is seeking changes to the firm’s strategy, operations, or culture, they turn to...

In the wake of the global financial crisis that erupted in 2008, there has been extensive commentary and regulatory focus on the 'Too Big to Fail' issue. In this paper, we survey the proposed solutions and regulatory initiatives that have been undertaken. We conduct a longitudinal analysis of...

In the wake of the global financial crisis that erupted in 2008, there has been extensive commentary and regulatory focus on the 'Too Big to Fail' issue. In this paper, we survey the proposed solutions and regulatory initiatives that have been undertaken. We conduct a longitudinal analysis of...

Purpose: The corporate finance literature has largely treated individual managers as uniform entities, leaving unexplained the large heterogeneity in corporate practices. The authors explore whether educational background attributes, such as a bachelor's degree from an elite institution and the...

The housing market crash in 2007 followed by a banking crisis and deep recession led to many underwater mortgages and a large shadow inventory of unsold properties. An innovative mechanism that may be playing a role in lowering inventories is the emergence of rent-to-own (RTO) housing contracts....