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Hermalin and Weisbach

100

'The number of directors on a firm’s board is negatively related to the firm’s financial performance' true or false?

True

200

The relationship between CEO turnover and .... is stronger when boards have explicit incentives

firm performance 

Klein

100

'Firms changing their board or audit committee from having a majority to a minority of outside directors’ experience large decrease in AAACs relative to their counterparts' True or False?

False, should be a large increase

200

There are significantly negative associations between ...... and the percent of outside directors on the board

abnormal accruals

Fich and Shivdasani

100

' the initial appointment of a busy director to a board without an incumbent busy director is good news for shareholders, implying that the experience or reputational impact of such outside directors can be beneficial ' True or False?

True

200

Boards relying heavily on .......... that serve on several boards are likely to experience a ...... in their quality of corporate governance

outside directors, decline

Coles, Naveen and Naveen

100

Which firms are expected to have larger boards and more outsiders?

Banks or complex firms with high advisory needs

200

Which different roles of the board does the article distinguish? (2)

Advisory role 

&

Monitoring role

Bruynseels and Cardinaels

100

'education & friendship ties are detrimental' true or false?

false, only friendship

200

What type of social ties between CEOs and audit committee members do the authors observe? (name 3)

• Employment (e.g., shared current directorships or past employment or directorships at other firms).
• Past education (e.g., graduating from the same school).
• Shared memberships in leisure clubs/country clubs.
• Shared memberships in charities.
• Shared memberships in non-profit institutions.