We present causal evidence on the e↵ect of boardroom networks on firm value and compensation policies. We exploit a ban on interlocking directorates of Italian financial and insurance companies as exogenous variation and show that firms that lose centrality in the network experience negative...

We present causal evidence on the e↵ect of boardroom networks on firm value and compensation policies. We exploit a ban on interlocking directorates of Italian financial and insurance companies as exogenous variation and show that firms that lose centrality in the network experience negative...

This paper tackles the subject of managers' pay in listed companies, with particularattention to the newly introduced duty of drafting reports on remuneration,by analyzing multiple pieces of legislation dealing with the matter that have been enactedat various legislative levels in our regulatory...