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Does personal litigation risk for independent directors materially affect firm valuation, compensation-related issues for independent directors, and board composition decisions? We use the unexpected In re Investors Bancorp decision in 2017 by the Delaware Supreme Court, which lowered the...
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We investigate the effect of executives and directors with prior banking crisis experience on bank outcomes around the global financial crisis (GFC). Banks led by individuals with previous experience leading banks through a bank crisis may have been uniquely able to understand the risks,...
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