Corporate Governance Research Papers

Open for comment; Despite the central role of boards in corporate governance, there has been relatively little understanding of their internal organization, specifically the structure of board committees.Using a dataset of over 6,000 firms, the authors find that committee activity, especially the number of committees, has been stable over time.

Open for comment; Despite the central role of boards in corporate governance, there has been relatively little understanding of their internal organization, specifically the structure of board committees.Using a dataset of over 6,000 firms, the authors find that committee activity, especially the number of committees, has been stable over time.

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These and other variations suggest that not all decisions about punishment are taken with shareholders’ interests in mind: The self-interest of host company executives is also an important consideration.

Once reviled as villains operating on the fringes of the market, activist investors like Carl Icahn are now powerful forces at work in the mainstream of business, says Professor Joseph Fuller. Open for comment; The number of firms reporting sustainability information has grown significantly in the past decade, both due to voluntary actions and to mandates from several national governments and stock exchange authorities.

Among theoretical contributions, the research integrates diverse theoretical streams and offers the first empirical piece of evidence about how CSR strategies are perceived as value-creating by an important information intermediary: sell-side analysts.

The work also integrates the CSR management literature with a large body of research in accounting and finance, to shed light on aspects of CSR activity for which little is known and much less is being understood; namely, the channels and the mechanisms through which the CSR impact is perceived and realized in public equity markets.

In accurately evaluating a CEO's performance, board members must get feedback from other employees at the company, who possess insight into day-to-day operations that the directors do not.

Closed for comment; Security analysts are increasingly awarding more favorable ratings to firms with corporate socially responsible (CSR) strategies, according to this paper by Ioannis Ioannou and HBS professor George Serafeim.The benefits and costs of a committee depend on its type.Overall, committees need to be more integrated into our understanding of corporate governance.This variation is consistent with executives determining appropriate punishments by an economic analysis of costs and benefits.Even so, senior male executives receive lighter punishments than female peers, for example.The editorial team of the Journal of Governance and Regulation has prepared a collection of research papers published in the journal devoted to corporate governance and firm performance.New research on corporate governance from Harvard Business School faculty on issues including the structure of board committees, the consequences of mandatory corporate sustainability reporting, and a cure of Enron-style audit failures.He recently sat down with HBS Working Knowledge to discuss what he considers to be the biggest practical issues facing boards today.Key concepts include: Board directors may not give an honest assessment of the company because they fear reprisal from the CEO or the other board members.In quarterly earnings calls with investors and analysts, some retail managers may underplay how their companies are actually performing, according to recent research by Kenneth Froot and colleagues.Open for comment; Punishments of white-collar crime are systematically related to perpetrator, transaction, and company characteristics.