Graziano, Clara; Luporini, Annalisa - In: Economics Bulletin 32 (2012) 4, pp. 3333-3346
We analyze the choice between a one-tier and a two-tier board structure in a firm with a large shareholder sitting on the board. The board has two tasks: project selection and monitoring the ability of the manager. In a one-tier structure, the sole board performs all tasks. In a two-tier...