This study examines whether and how female directors enhance innovation performance. Based on a sample of U.S. firms, this study shows that firms with more female directors on boards present a more pronounced positive association between R&D and future firm performance (measured by earnings and...

This study examines how firm- and country-level governance mechanisms affect the role of industry competition in influencing managerial incentives. Specifically, we examine how concentrated ownership structures and legal institutions affect the positive association between industry competition...