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Morning Must-Read: Jacob Rose et al.: Will Disclosure of Friendship Ties Between Directors and CEOs Yield Perverse Effects?

Jacob Rose et al.: Will Disclosure of Friendship Ties Between Directors and CEOs Yield Perverse Effects?: “We conduct an experiment…

…involving 56 active and experienced corporate directors… and a second experiment with MBA students…. Friendship ties caused directors to be more willing to approve reductions to research and development (R&D) expenses… to meet the CEO’s minimum bonus target more often than when the directors and CEO were not friends. However, disclosing friendship ties resulted in even greater reductions in R&D expenses and higher CEO bonuses…. Friendship ties between the CEO and board members can impair the directors’ independence and objectivity, and… disclosure of the relationships can worsen this effect.

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Morning Must-Read: Jacob Rose et al.: Will Disclosure of Friendship Ties Between Directors and CEOs Yield Perverse Effects?

June 29, 2014

June 29, 2014

U.S. economic mobility trends and outcomes

U.S. income and wealth inequality are no longer increasing, but a return to the equitable levels of the mid-20th century isn’t likely anytime soon