We investigate the effect of board connections on the debt structure of private firms. Using a comprehensive panel data set from Italy, our empirical evidence indicates that independent directors who sit on multiple boards facilitate firms' access to external debt, mostly in the form of trade...

Share repurchases have come under criticism as they may be used for earnings management and take capital away from productive investment. However, share repurchases can also reduce the agency costs of free cash flow and offset the dilution of current shareholders. Whether firms engage in good or...

Share repurchases have come under criticism as they may be used for earnings management and take capital away from productive investment. However, share repurchases can also reduce the agency costs of free cash flow and offset the dilution of current shareholders. Whether firms engage in good or...

Research Question/Issue: The level and effectiveness of investors' protection is considered to foster financial markets development and economic growth. While previous studies focused on the relationship between the institutional setting and investors' protection at country level, we investigate...

This study explores board tasks performance. Boards of directors fulfil two main tasks: (i) monitoring managers and firm performance, and (ii) providing advice and access to resources. A growing stream of research endeavours to understand what enhances (constrains) boards' engagement into...