“Shareholder primacy is good for companies, employees, and even for other stakeholders,” Nell Minow recently said in a recent Keynote Address to ICGN. She also referenced an old, but still timely, “New Yorker cartoon with a woman raising her hand at an annual shareholder meeting, and one of the executives whispering to another, ‘This is […]
Outside directors have incentives to resign to protect their reputation or avoid increased workload when they anticipate the firm will perform poorly or disclose adverse news. In find no real surprise in the research of Fahlenbrach, Low, and Stulz who find strong support for the hypothesis that following surprise director departures, affected firms have stock […]