corporate performance

Bottom-up Corporate Governance

Companion empirical paper to "Optimal Dissent". When a large share of the executive team was appointed prior to the CEO, firms are more profitable and acquisitions have higher long-term returns.

Performance and Behavior of Family Firms

Family firms -- even those managed by their founders' heir -- have higher performance in the cross-section than widely-held corporations. We relate this to stronger implicit insurance contracts between firms and workers in family-owned firms.