We examine the impact of corporate board reforms on firm value in 41 countries. Using a difference-in-differences design, we find that board reforms increase firm value. Reforms involving board and audit committee independence, but not reforms involving separation of chairman and CEO positions,...

We examine how boardroom gender diversity reforms impact the monitoring role of institutional investors. Using reforms from 25 countries that aim to improve gender diversity on boards, we find that the reforms increase the association between institutional ownership and subsequent female...