In this paper, we review the theoretical and empirical literature on measuring the top management quality of firms, and its relation to various aspects of corporate financial policies and corporate innovation, and draw policy implications for enhancing corporate innovation. First, we discuss how...

We model a corporate board evaluating a CEO of uncertain management ability. Each director receives a noisy private signal about CEO ability, after which directors discuss this ability and vote to retain or replace the CEO. Directors care about true CEO ability, since it affects their equity...

We analyze the relationship between top management team human capital (“management quality”) and long-run firm performance using panel data from BoardEx. We control for the potentially endogenous matching between firm and management quality using as instrument a plausibly exogenous shock to...

We use transactional level data on institutional trading around CEO turnovers to analyze the information flows and settings that allow information production and trading to act as an effective corporate governance mechanism. We find that institutional trading prior to a CEO turnover is...

We make use of hand-collected data on a large sample of entrepreneurial firms to analyze the effect of venture capital (VC) backing on the management quality of firms going public and the effect of both VC-backing and management quality on IPO variables. We hypothesize that VC-backing will be...