To examine whether outside (or independent) directors monitor management in the shareholder interest, the authors collect Japanese companies that experience 33 per cent or more performance declines during the financial crisis (for the 2008 accounting year) and investigate how board independence...

This paper presents a new technique for quantitively measuring and comparing the co-presence patterns of people residing in gated and non-gated housing areas using a proximity-based social network (PBSN). Twelve comparable housing areas (i.e., six pairs) in Wuhan, China, were carefully selected....