A longer, more technical version of this article appeared in Columbia Law Review, Vol. 98 (June 1998), pp. 1283-1322. This research has been funded by the John M. Olin Foundation program in government-business relations at the Yale School of Management and by Weil, Gotshal & Manges LLP. Olin Senior Fellows Karen Lamb and Gary Davison, assisted by SOM students Michael Asato and Mangesh Mulgaonkar, contributed materially to implementation of the research design. The authors wish to express their gratitude to the following scholars and experts in the field for their valuable input and insights: William J. Baumol, Holly J. Gregory, Jim Hawley, Thomas R. Horton, Tim Koller, Richard H. Koppes, Paula Lowitt, Chris McCusker, Richard A. Miller, Robert A.G. Monks, Alan J. Patricof, James Phills, Ned Regan, Martin Shubik, John G. Smale, Michael I. Sovern, Robert B. Stobaugh, Kenneth West, and Andy Williams. We would like to extend special thanks to Kayla Gillan, General Counsel of CalPERS; Richard H. Koppes, former General Counsel of CalPERS; and Kenneth West, Senior Consultant to TIAA-CREF, for providing us with access to governance data considered for analysis in this paper.
THE ACTIVE BOARD OF DIRECTORS AND ITS EFFECT ON THE PERFORMANCE OF THE LARGE PUBLICLY TRADED CORPORATION
Article first published online: 12 APR 2005
Journal of Applied Corporate Finance
Volume 11, Issue 4, pages 8–20, Winter 1999
How to Cite
MacAvoy, P. W. and Millstein, I. M. (1999), THE ACTIVE BOARD OF DIRECTORS AND ITS EFFECT ON THE PERFORMANCE OF THE LARGE PUBLICLY TRADED CORPORATION. Journal of Applied Corporate Finance, 11: 8–20. doi: 10.1111/j.1745-6622.1999.tb00510.x
- Issue published online: 12 APR 2005
- Article first published online: 12 APR 2005
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