This paper is a survey of the literature on boards of directors, with an emphasis on research done subsequent to the Hermalin and Weisbach (2003) survey. The two questions most asked about boards are what determines their makeup and what determines their actions? These questions are...

We survey the empirical literature on disproportional ownership, i.e. the use of mechanisms that separate voting rights from cash flow rights in corporations. Our focus is mostly on explicit mechanisms that allow some shareholders to acquire control with less than proportional economic interest...

We use a large sample of guessed ice break-up dates for the Tanana River in Alaska to study differences between outcomes of decisions made by individuals versus groups. We estimate the distribution of guesses conditional on whether they were made by individual bettors or betting pools. We...

We use instrumental variables methods to disentangle the effect of founder-CEOs on performance from the effect of performance on founder-CEO status. Our instruments for founder-CEO status are the proportion of the firm's founders that are dead and the number of people who founded the company. We...

We analyze a range of corporate governance variables as they pertain to a sample of bank holding companies (BHCs) and manufacturing firms. We find that BHCs have larger boards and that the percentage of outside directors on these boards is significantly higher; also, BHC boards have more...

We survey the empirical literature on disproportional ownership, i.e. the use of mechanisms that separate voting rights from cash flow rights in corporations. Our focus is mostly on explicit mechanisms that allow some shareholders to acquire control with less than proportional economic interest...

The authors analyze a range of corporate governance variables as they pertain to a sample of bank holding companies (BHCs) and manufacturing firms. They find that BHCs have larger boards and that the percentage of outside directors on these boards is significantly higher; also, BHC boards have...

In recent years, the internationalization of securities markets has accelerated in pace and broadened in scope. Faced with the growing complexity of modern stock markets, national securities regulators have recognized the need for greater cooperation, and a variety of efforts to achieve...

This paper is motivated by a seemingly growing gap between the dominant themes in two closely related fields -- securities regulation and corporate governance -- especially in what regards their international, or comparative, aspects. In the field of securities regulation the dominant trend is...

The internationalization of securities markets causes the effects of domestic securities regulations systems to be externalized to foreign markets. Securities regulation regimes of interlinked markets thus become relevant to one another. By implementing 2x2 game models and insights from...