Audra L. Boone

TL;DR: In this article, the authors used a panel dataset that tracks corporate board development from the time of a firm's IPO through 10 years later and found that board independence is negatively related to the manager's influence and positively related to constraints on such influence.

TL;DR: The authors found that board size and independence increase as firms grow and diversify over time; board size reflects a tradeoff between the firm-specific benefits and costs of monitoring; and board independence is negatively related to the manager's influence and positively related to constraints on that influence.

TL;DR: In this article, the authors study the acquisition and divestiture activity of a sample of 1305 firms from 59 industries during the 1990-1999 period and find that half of the sample firms are acquired or engage in a major divestiture.

TL;DR: In this paper, the authors developed a new measure competition based on the pre-public, private takeover process that indicates that public takeover activity is only the tip of the iceberg of actual takeover competition during the 1990s, and they showed a highly competitive market where half of the targets were auctioned among multiple bidders, while the remainder negotiated with a single bidder.

TL;DR: The authors examined the effects of institutional ownership on firms' information and trading environments using the annual Russell 1000/2000 index reconstitution and found that higher institutional ownership is associated with greater management disclosure, analyst following, and liquidity, resulting in lower information asymmetry.