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    1. The Structure of Board Committees

      The Structure of Board Committees

      Despite the central role of boards in corporate governance, there has been relatively little understanding of their internal organization, specifically the structure of board committees. Using a dataset of over 6,000 firms, the authors find that committee activity, especially the number of committees, has been stable over time. Most of the familiar non-required board committees are rarely used. The majority of directors sit on multiple committees. The benefits and costs of a committee depend on its type. Overall, committees need to be more integrated into our understanding of corporate governance.

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    2. If the CEO’s High Salary Isn't Justified to Employees, Firm Performance May Suffer

      If the CEO’s High Salary Isn't Justified to Employees, Firm Performance May Suffer

      It’s no surprise that business executives make more money than lower-level employees. But when that pay disparity between a CEO and the average worker is perceived as unfair, the result may be more than unhappy workers: A firm’s performance can deteriorate.

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    3. The Future of Boards

      The Future of Boards

      Bill George's chapter ["Board Governance Depends on Where You Sit"] offers the perspectives of different board positions on the work of corporate governance. Bill is on our faculty now, but serves or has served on numerous boards and is the former chairman and CEO of Medtronic. Reading his contribution to this book gets to the crux of the issue. Yes, a board seems like a relatively simple institution with 10 people sitting around a table, but it's a lot more complex than it appears. A: When it c

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