Larry Fauver

TL;DR: In this article, the authors propose that representation of labor on corporate boards confers valuable first-hand operational knowledge to corporate board decision-making, and find that labor representation provides a powerful means of monitoring and reduces agency costs within the firm.

TL;DR: In this paper, the authors find that the value of corporate diversification is related to the level of capital market development, international integration, and legal systems, and suggest that the optimal organizational structure and corporate governance may be very different for firms operating in emerging markets than they are for companies operating in more developed and internationally integrated countries.

TL;DR: In this article, the authors exploit unique features of the U.S. municipal bond underwriting market to assess how political integrity affects primary financial market outcomes and show that state corruption and political connections have strong effects on several aspects of municipal bond sales and underwriting.

TL;DR: In this article, the authors show that state corruption and political connections have strong effects on municipal bond sales and underwriting, and that higher state corruption is associated with higher credit risk and higher bond yields.

TL;DR: In this article, the authors examined the impact of corporate board reforms on firm value in 41 countries using a difference-in-differences design, and found that board reforms increase firm value.