Based on the author's own experience as an external and independent director of several boards of directors of family-owned companies, the objective of this paper is to show the responsibilities that these directors must assume and how they should preserve their qualities as "external" and...

This paper compares board and director characteristics of reverse leveraged buyout (LBO) firms controlled by LBO specialists to those of an industry- and size-matched comparison sample. We consider the boards of the reverse LBOs to be value-maximizing because of the strong incentives the LBO...

We investigate the relationship between board independence and firm's long-term performance, as measured by Tobin's q. In a longitudinal sample of 1,143 firms in the S&P 1500 list from 1997 through 2006, we find some evidence of a significant nonlinear relationship. Two of three nonlinear models...

This study uses a hand-collected dataset for charter school boards in Massachusetts between 2001 and 2009 to examine the relationship between financial performance and the presence of founders and financially affiliated directors. School-level financial performance suggests that founder presence...

We investigate the influence of non-executive outside directors on firms' innovative performance for a sample of 1,393 listed firms in the EU - 15 member states plus Norway and Switzerland in the period 2005 to 2010. Our results show that the fraction of non-executive outside directors on the...

In listed companies, the Board of directors has ultimate responsibility for information disclosure. The conventional wisdom is that director independence is an essential factor in improving the quality of that disclosure. In a sense, this approach subordinates expertise to independence. We argue...

What practice shows us is that managers' information needs a continuous updating. The management chart is a managing instrument which, together with the management accounting and the budgetary control, stands for supporting management decisions, providing them further data to complete those...

Prior research shows that board size has a significant effect on firm performance. Therefore, board size is a crucial aspect of the board of directors. We investigate how firms adjust board size in response to economic policy uncertainty (EPU). We find that firms reduce board size in the...