Seven Gaping Holes in Our Knowledge of Corporate Governance

Seven Gaping Holes in Our Knowledge of Corporate Governance

David Larcker, Brian Tayan

Series number :

Serial Number: 

Date posted :

May 03 2023

Last revised :

May 03 2023
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  • Corporate governance • 
  • board quality • 
  • board structure • 
  • board of directors • 
  • independence • 
  • labor market for CEO talent • 
  • CEO succession • 
  • succession planning • 
  • CEO compensation • 
  • pay levels • 
  • Executive pay • 
  • pay for performance • 
  • pay mix • 
  • Shareholder base • 
  • activist shareholders • 
  • index funds • 
  • passive shareholders

In Closer Look, we highlight significant “holes” in our knowledge of corporate governance. These are central issues where insufficient or inadequate study has left us unable to answer basic questions, and where key assumptions relied upon by experts have not been verified or validated.

While the concepts we review are not exhaustive, each is critical to our understanding of the proper functioning of governance, including board oversight, the recruitment of CEO talent, the size and structure of CEO pay, and the advancement of shareholder and stakeholder welfare.


Real name:
Brian Tayan