Finance Seminar with Charlotte Ostergaard, BI
The Department of Finance is proud to announce the upcoming seminar with Charlotte Ostergaard, BI Norwegian Business School
Charlotte Ostergaard will present:
Mike Burkart, London School of Economics and Political Science
Salvatore Miglietta, BI Norwegian Business School
Charlotte Ostergaard, BI Norwegian Business School
We study how owners trade off costs and benefits of establishing a board in a historical setting, where boards are optional and authority over corporate decisions can freely be allocated across the general meeting, the board, and management. We find that large owners and boards are substitutes, and that boards exist in firms most prone to have collective action problems. Boards monitor, advise, and mediate among shareholders, and these different roles entail different allocations of authority. Boards also arise to balance the need for small shareholder protection with the need to curb managerial discretion.
Solbjerg Plads 3, 2000 Frederiksberg