These quick guides provide a concise introduction to corporate governance concepts by combining descriptions, data, and research in a format that is easily digestible.
Introduction to Corporate Governance
Corporate governance has become a well-discussed and controversial topic among corporations, shareholders, and the general public. However, the debate over what constitutes “good governance” often…
Corporate Governance Failure, Fraud, and Scandal: Data
This Data Spotlight provides data and statistics on unethical behavior in corporations and other negative outcomes including bankruptcy, litigation, and corruption in the United States…
International Corporate Governance
The governance system that a company adopts is not independent of its environment. Instead, it is shaped by a variety of factors inherent to the…
Board of Directors: Duties and Liabilities
The board of directors plays a central role in the corporate governance system. All countries require that publicly listed companies have a board. While their…
Board of Directors: Selection, Compensation, and Removal
A board of directors requires professionals with a diverse mix of managerial, functional, and other specialized knowledge in order to properly advise and oversee management…
Board Composition, Quality, & Turnover
This Research Spotlight provides a summary of the academic literature on board composition, quality, and turnover. It reviews the evidence of: The appointment of outside…
Board of Directors: Structure and Consequences
The board of directors is generally described in terms of its prominent structural attributes, including size, composition, and independence. This Quick Guide examines the importance…
Board Structure: Data
This Data Spotlight provides data and statistics on the attributes of boards of directors of publicly traded companies in the United States. This data supplements…
Independent Chairman
This Research Spotlight provides a summary of the academic literature on whether companies with an independent chairman of the board exhibit better governance quality than…
Independent and Outside Directors
This Research Spotlight provides a summary of the academic literature on outside (non-executive) directors and directors who are independent according to New York Stock Exchange…
Diverse Boards
This Research Spotlight provides a summary of the research literature on whether companies with diverse boards (in terms of background, gender, or ethnicity) exhibit better…
Strategy and Risk Oversight
One of the primary responsibilities of the board of directors is to monitor the strategy and risk of the corporation. This Quick Guide provides a…
CEO Succession Planning
The board of directors is responsible for ensuring that correct management is in place to run the organization. This includes hiring, evaluating, and — when…
CEO Succession: Data
This Quick Guide provides data and statistics on the attributes of the CEOs and CEO succession events at publicly traded companies in the United States…
CEO Turnover
This Research Spotlight provides a summary of the academic literature on relation between CEO performance and turnover. It reviews the evidence of: The relation between…
Internal vs. External CEOs
This Research Spotlight provides a summary of the academic literature on internal and external CEOs. It reviews the evidence of: Trends in hiring external CEOs…
CEO Attributes and Firm Performance
This Research Spotlight provides a summary of the academic literature on the influence that CEOs have on company outcomes (performance and risk). It reviews the…
CEO Compensation
A company offer a competitive compensation arrangement in order to attract, retain, and motivate a qualified CEO to manage the organization. This quick guide examines…
CEO Compensation: Data
This Data Spotlight provides data and statistics on the level and structure of CEO compensation in the United States. This data supplements in the issues…
CEO Pay Levels
This Research Spotlight provides a summary of the academic literature on CEO pay levels in the United States. It reviews the evidence of: Long-term trends…
Say on Pay
This Research Spotlight provides a summary of the academic literature on how shareholder voting on executive compensation plans influences executive pay. It reviews the evidence…
Equity Ownership
A company offers equity incentives to encourage CEOs to take actions that are in the interest of shareholders. At the same time, equity incentives have…
Equity, Insider Trading, & Restatements
This Research Spotlight provides a summary of the academic literature on the impact of equity ownership on firm performance and agency problems: The relation between…
Compensation & Risk
This Research Spotlight provides a summary of the academic literature on how equity compensation influences CEO risk taking. It reviews the evidence of: The relation…
Financial Reporting and External Audit
The board of directors is responsible for ensuring the integrity of published financial statements. This includes working with management to set the parameters for accounting…
The Market for Corporate Control
The board of directors might decide it is in the best interest of shareholders to sell the corporation to new owners. In theory, a change…
Golden Parachutes
This Research Spotlight provides a summary of the academic literature on how golden parachute payments influence CEO incentives to pursue mergers and acquisitions. It reviews…
Staggered Boards
This Research Spotlight provides a summary of the academic literature on how staggered boards impact shareholder value by insulating management from the pressures of capital…
Shareholders & Shareholder Activism
Shareholders exert influence over the corporation through the board of directors and the proxy voting process. While indirect, this influence can be powerful in shaping…
Shareholders and Corporate Control: Data
This Data Spotlight provides data and statistics on shareholder activism and the market for corporate control. This data supplements the issues introduced in the Quick…
Shareholder Activism
This Research Spotlight provides a summary of the academic literature on shareholder activism, including: The impact of union activism on corporate outcomes. The performance of…
Proxy Advisors
This Research Spotlight provides a summary of the academic literature on the role of proxy advisors in the proxy voting process: This Research Spotlight expands…
Alternative Models of Governance
Other organizational structures exist besides public corporations. Examples include family-controlled businesses, venture-backed companies, private equity-owned businesses, and nonprofit organizations. Each of these faces their own…
Venture Capital and Pre-IPO Governance: Data
This Data Spotlight provides data and statistics on the venture capital industry and the governance of pre-IPO companies in the United States. This data supplements…
ESG and Stakeholders
There has been tremendous pressure on companies to satisfy stakeholder considerations as part of their long-term planning and governance. This activity is broadly categorized as…
Environmental, Social, and Governance
This Research Spotlight provides a summary of the academic literature on environmental, social, and governance (ESG) activities including: The relation between ESG activities and firm…
ESG Ratings
This Research Spotlight provides a summary of the academic literature on environmental, social, and governance (ESG) ratings, including: The influence of ESG ratings on mutual…
Dual-Class Shares
This Research Spotlight provides a summary of the academic literature on how dual-class share structures influence firm value and corporate governance quality. It reviews the…
