type="main" <p>Regulators and governance scholars often regard the high rates of reelection among those nominated for boards of directors (and the small percentage of nominated directors who lose elections) as persuasive evidence of limited shareholder power. To correct this perceived imbalance...</p>

We examine how Chief Executive Officer (CEO) compensation increased at a subset of firms in response to a governance shock that affected compensation levels at other firms in the economy. We first show that Delaware-incorporated firms with staggered boards and no outside blockholders increased...

The motive to manage impressions has been broken down into protective and acquisitive orientations. A protective orientation exists when an individual is concerned primarily with encountering disapproval, rather than approval, from the relevant audience. An acquisitive orientation exists when an...