This paper uses a unique dataset from Denmark to investigate the impact of family characteristics in corporate decision making and the consequences of these decisions on firm performance. We focus on the decision to appoint either a family or external chief executive officer (CEO). The paper...

Using stock price reactions to sudden deaths of executives as a measure of expected contribution to shareholder value, we provide empirical evidence on the relationship between executive pay and managerial contribution to shareholder value. We find, first, that the managerial labor market is...

This study examines whether personal liability for corporate malfeasance deters individuals from serving as independent directors. Exploiting the introduction of personal liability in India, we find that personal liability deters individuals from serving on corporate boards. We find stronger...

This paper uses a unique dataset from Denmark to investigate the impact of family characteristics in corporate decision making and the consequences of these decisions on firm performance. We focus on the decision to appoint either a family or external chief executive officer (CEO). The paper...