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Stanford Closer Look Series

The Stanford Closer Look series is a collection of short studies through which we explore topics, issues, and controversies in corporate governance. In each study, we take a targeted look at a specific issue and explain why it is important.

David F. Larcker, Brendan Sheehan, Brian Tayan
Stanford Closer Look Series. Corporate Governance Research Initiative, September
2016

Executive compensation is a highly controversial topic. Journalists, governance commentators, and members of the American public believe that the majority of CEOs are overpaid. Missing from the discussion, however, is...

David F. Larcker, Brian Tayan
Stanford Closer Look Series. Corporate Governance Research Initiative, August
2016

Individual investors are active participants in the shareholder resolution process, filing approximately one quarter of the total number of shareholder resolutions voted on each year. Their activism, however, is controversial....

David F. Larcker, Brian Tayan
Stanford Closer Look Series. Corporate Governance Research Initiative, June
2016

One of the most controversial issues in corporate governance is whether the CEO of a corporation should also serve as chairman of the board. In theory, an independent board chair...

David F. Larcker, Brian Tayan
Stanford Closer Look Series. Corporate Governance Research Initiative, May
2016

The board of directors has a responsibility to investigate credible allegations that management has engaged in activity that is not in the interest of the company or its shareholders. In...

David F. Larcker, Brian Tayan
Stanford Closer Look Series. Corporate Governance Research Initiative (CGRI), April
14 , 2016

Institutional investors pay considerable attention to the quality of a company’s governance. Unfortunately, it is difficult for outside observers to reliably gauge governance quality. Oftentimes, poor governance manifests itself only...

David F. Larcker, Brian Tayan
Stanford Closer Look Series. Corporate Governance Research Initiative (CGRI), April
2016

The litmus test for an effective compensation program is whether it provides “pay for performance.” While the concept of pay for performance is simple, its implementation is not. In particular,...

David F. Larcker, Brian Tayan
Stanford Closer Look Series. Corporate Governance Research Initiative (CGRI), April
2016

Keller Williams is one of the most successful real estate franchises in the world. The leaders of the company attribute its growth in large part to a cultural model that...

Nicholas E. Donatiello, David F. Larcker, Brian Tayan
Stanford Closer Look Series. Corporate Governance Research Initiative, Rock Center for Corporate Governance, March
2016

CEO compensation is a highly controversial subject. While most company directors believe that CEO pay is not a problem, the majority of the American public believes that it is. The...

David F. Larcker, Brian Tayan
Stanford Closer Look Series. Corporate Governance Research Initiative (CGRI), October
2015

Corporate governance experts pay considerable attention to issues involving the board of directors. Because of the scope of the board’s role and the vast responsibilities that come with directorship, companies...

David F. Larcker, Brian Tayan
Stanford Closer Look Series. Corporate Governance Research Initiative (CGRI), October
2015

For much of its history, Berkshire Hathaway has been regarded primarily as the investment vehicle of Warren Buffett rather than a bona fide corporation. However, as Berkshire Hathaway has expanded...