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Hiring Cheerleaders: Board Appointments of "Independent" Directors

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NBER2008-08-01 更新2025-01-04 收录
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We provide evidence that firms appoint independent directors who are overly sympathetic to management, while still technically independent according to regulatory definitions. We explore a subset of independent directors for whom we have detailed, micro-level data on their views regarding the firm

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2008-08-01
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