Management

Jamie Dimon, the chairman and chief executive officer at JPMorgan Chase & Co
Whether shareholders benefit from a separate chairman and CEO depends more on context than on corporate structure, David F. Larcker and Brian Tayan find.
Stanford Closer Look Series -
04.30.13
David F. Larcker, Allan l. McCall, and Brian Tayan explore the policy development process and its role in corporate governance.
photo of faculty and student
Award-winning economist Susan Athey, noted econometrician Guido Imbens, corporate finance expert Joshua Rauh, and others to join Stanford GSB faculty.
Seated shareholders
A new paper says shareholder voting on executive pay doesn't improve compensation practices.
YouTube -
06.21.12
Citigroup CEO Vikram Pandit discusses criticism of financial institutions and what he calls "responsible finance."
Image of stock trader
Why bankers like leverage—and what that could mean for the global financial system.
photo of man receiving bad news
Executives quickly report good news — but hold the bad for a flood of it. 
David Larcker photo
Given the pervasiveness of social media, should the board of directors pay closer attention to the information exchanged on these sites?  Can this information be used to improve oversight and risk management?
Anat Admati photo
In a Reuters oped, Professor Anat Admati argues that bank dividend payouts to shareholders expose "the economy to unnecessary risks without valid justification."
David Larcker photo
David F. Larcker and Brian Tayan at the Corporate Governance Research Program examine succession plans, what a board can do if the market reacts positively to the death of its CEO, and whether the board should revise its succession plan if its CEO engages in risky hobbies or lifestyle habits.

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Jamie Dimon, the chairman and chief executive officer at JPMorgan Chase & Co
Whether shareholders benefit from a separate chairman and CEO depends more on context than on corporate structure, David F. Larcker and Brian Tayan find.
photo of faculty and student
Award-winning economist Susan Athey, noted econometrician Guido Imbens, corporate finance expert Joshua Rauh, and others to join Stanford GSB faculty.
President of Portugal
Portuguese President Aníbal Cavaco Silva was in the Bay Area to meet with representatives of business, finance and education to encourage the establishment of closer connections with the institutions of his country. Not surprisingly, attention was focused on the European debt crisis and recent political events in Greece and Italy.
Corporate governance experts from Stanford Graduate School of Business say criticism of CEO pay might be off the mark.
New Book (Corporate Governance Matters by Professor David Larcker and Brian Tayan) from Stanford Graduate School of Business Showcases Research into How Boards Can Govern Better.
As Japan shifts from disaster relief to rebuilding, GSB alumni see opportunities for change and renewal.
Arab nations rocked by popular uprisings in recent months face complex, precarious, and often divergent paths toward establishing democracy, says Stanford democracy expert Larry Diamond.
Modernizing the New York Stock Exchange required extensive communication efforts with employees, Duncan Niederauer, the CEO of NYSE Euronext, told a Stanford Graduate School of Business audience. "And when we were pretty sure we'd over-communicated, we communicated a little bit more."
David Larcker
More than half of companies today cannot immediately name a successor to their CEO should the need arise, according to new research conducted by Heidrick & Struggles and Rock Center for Corporate Governance at Stanford University. The survey of more than 140 CEOs and board directors of North American public and private companies reveals critical lapses in CEO succession planning.
Joseph Grundfest and Darrell Duffie
Two Stanford experts on the finance industry distinguished between ethical and legal issues during a public analysis of the Securities and Exchange Commission's lawsuit against Goldman Sachs' allegedly fraudulent Abacus deal. Both came down in favor of stiffer regulation of derivative markets.

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Seated shareholders
A new paper says shareholder voting on executive pay doesn't improve compensation practices.
Image of stock trader
Why bankers like leverage—and what that could mean for the global financial system.
photo of man receiving bad news
Executives quickly report good news — but hold the bad for a flood of it. 
David Larcker photo
Given the pervasiveness of social media, should the board of directors pay closer attention to the information exchanged on these sites?  Can this information be used to improve oversight and risk management?
Anat Admati photo
In a Reuters oped, Professor Anat Admati argues that bank dividend payouts to shareholders expose "the economy to unnecessary risks without valid justification."
David Larcker photo
David F. Larcker and Brian Tayan at the Corporate Governance Research Program examine succession plans, what a board can do if the market reacts positively to the death of its CEO, and whether the board should revise its succession plan if its CEO engages in risky hobbies or lifestyle habits.
Stefan Nagel photo
After analyzing repurchase agreements by money-market funds and security lenders, these researchers believe that banks off-balance-sheet collateralization of commercial paper is more likely to have prompted the run on short-term debt financing in the recent financial crisis.
Darrell Duffie
Finance professor Darrell Duffie of the Stanford Graduate School of Business proposes alternative capital requirements for banks to eliminate potential unintended consequences of financial reform.
Permissive bankruptcy laws, not bad business downturns, seem to be the greatest cause of corporate bond defaults, according to Professor Ilya Strebulaev, co-author of a study that researched 150 years of figures.
The likelihood of temporary shocks, such as the 2006 contamination that shut down spinach growers, contributes in previously unexplored ways to CFOs? conservative approach to debt financing. In fact, says coauthor Ilya Strebulaev, managers should be even more focused on risk management.

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