Corporate Finance and Governance

Corporate governance research examines how the rules, relationships, and incentives surrounding a firm's ownership and leadership shape the decisions managers make about capital, dividends, and risk. Because investors cannot perfectly monitor those who run a company on their behalf, the strength of legal protections, the concentration of ownership, and the composition of the board all influence whether firm resources are deployed efficiently or diverted for private benefit. Ongoing work investigates how CEO personality and managerial traits enter financial policy alongside structural factors, and how large institutional shareholders—whose preferences can shift quickly—affect outcomes in high-stakes events like mergers and acquisitions. A persistent open question is whether governance mechanisms that improve performance in one institutional or legal setting travel well across different national contexts, where investor protection norms vary widely.

Works

191,688

Total citations

4,207,258

Keywords

Corporate GovernanceInvestor ProtectionOwnership StructureFinancial ConstraintsFirm PerformanceDividend Policy