Financial Expertise of Directors
NBER Working Paper No. 11914
---- Acknowledgements ----
We thank Alexander Ljungqvist, Ernst Maug, Stefan Nagel and Philip Strahan for helpful comments. We also thank the seminar audiences at the NBER Summer Institute Corporate Governance meeting, WFA, Fall 2004 NBER Corporate Finance program meeting, at the University of Pennsylvania, Stanford, Cornell, University of Notre Dame, UC Irvine, Emory University, UT Austin, Columbia University, USC and University of North Carolina. Justin Fernandez, George Georgiev, Vaibhav Gupta, Nicole Hammer, Rumit Kanakia, Jared Katseff, Catherine Leung, Chenkay Li, Scott McLin, Felix Momsen, Neeraj Shah, Ning Xu, and Nancy Yu provided excellent research assistance. Earlier versions of this paper were titled "The Impact of Boards with Financial Expertise on Corporate Policies." The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.