The corporate governance literature is rich with empirical tests of the relation between board composition and firm performance. We consider the effect of board composition on a different measure of performance, the probability a firm will be sued by shareholders. We find firms that are...

It is generally agreed that boards are endogenously determined institutions that serve both an oversight and advisory role in a firm. While the oversight role of boards has been extensively studied, relatively few studies have examined the advisory role of corporate boards. We examine the...

The corporate governance literature is rich with empirical tests of the relation between board composition and firm performance. We consider the effect of board composition on a different measure of performance, the probability a firm will be sued by shareholders. We find firms that are...

It is generally agreed that boards are endogenously determined institutions that serve both an oversight and advisory role in a firm. While the oversight role of boards has been extensively studied, relatively few studies have examined the advisory role of corporate boards. We examine the...

According to the conventional wisdom, a revolving door operates between government and industry. High ranking government officials leave office and head for Washington law firms or major corporations where they use their connections and influence to further their new employers' political...