Publications

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 fund flows
• The correlation of ESG ratings…

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 value
• The impact of environmental and…

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 companies with a dual chairman/CEO. It reviews the evidence of:

…

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 listing requirements. It reviews the evidence of:

• …

This research brief leverages multiple datasets from the U.S. Census Bureau to provide a summary of the state of Black-owned businesses in the United States. It is important to understand and measure these pre-pandemic trends in order to pinpoint…

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 CEOs as directors
• The importance of industry expertise…

We seem to care about authenticity a lot these days. When it comes to our work, our leaders, our experiences, even our products, we increasingly value what’s real, genuine, or true.

But how do people respond to authenticity when they see…

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 evidence of:

• The relation between dual-class shares and…

Latino-owned businesses are growing in number and importance to the American economy. Contributing more than $700 billion in sales to the economy annually, they are also an important source of employment as sole proprietors and as firms with…

Latinos own 350,000 employer businesses in the U.S., creating nearly 3 million American jobs, and driving a GDP of more than $2 trillion. The Latino population in the U.S. has more than doubled since the 1990s, growing from 8 percent to 18…

The promise — and potential — of blockchain to drive social impact is massive, but how much of it is hype and how much is reality?

Proponents contend blockchain will touch, if not disrupt, every major industry and will even alter the way…

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 upon issues introduced in the Quick Guide “…

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 equity ownership and performance
• The relation between…

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
• Operating condition of companies that hire internal and external…

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 evidence of:

• The contribution of the CEO to overall company performance…

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 performance and likelihood of termination
• The relation…

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 performance and governance quality than companies without diverse boards…

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 of:

• The impact of “vote no” campaigns
• The…

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 markets. It reviews the evidence of:

• Staggered board…

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 between stock options and CEO investment decisions
• The…