We analyze how 14,000 US top executives exercise their stock options. Factors suggested by existing theories have low or moderate explanatory power....
Separation between CEO and Chairman of the Board is typically viewed as evidence of good corporate governance. Surprisingly, the literature has failed...
The moral hazard incentives of the bank safety net predict that distressed banks take on more risk and higher leverage. Since many factors reduce these...
This paper uses a large survey of directors to investigate variation in directors' dual roles as advisors and monitors of management. I examine whether...