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Book
Is Short-Term Debt a Substitute or a Complement to Good Governance?
Authors: --- --- ---
Year: 2019 Publisher: Washington, D.C. : The World Bank,

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Abstract

Short-term debt exposes firms to credit supply shocks and liquidity risk. Short-term debt can also reduce potential agency conflicts between managers and shareholders by exposing managers to more frequent monitoring by the market. This paper examines whether internal monitoring through independent boards and stronger shareholder protections can substitute for external monitoring through the use of short-term debt. The analysis finds that the relationship between debt maturity and governance depends on shareholder rights in a given country. In countries with stronger investor protection, governance and short-term debt act as substitutes. Instrumenting the institutional environment with legal origin confirms the results.


Book
Navigating the Human Side of Boardroom Interactions : Improving Relationships at the Top.
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ISBN: 1637422180 Year: 2022 Publisher: New York : Business Expert Press,

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Abstract

Board members often struggle to identify their true role, caught between the Chair and the executive board. As a result, board members frequently have doubts about their role and personal impact; doubts which are rarely acknowledged nor addressed. By focusing on the most impactful driver of success -- the human behavior -- the author explores how to create a strong board team whose members are clear about the team's role, are able to talk about their concerns, and are therefore also comfortable to listen, to challenge, and to support. Based on around 60 interviews around the globe and his own board experience, this book will help Chairs to form a strong team, build a resilient relationship with the CEO, assess how to use their considerable power, and when to show self-restraint. Navigating the Boardroom supports board members and managers in reflecting on how to navigate the complex web of boardroom relations and provides both practical and attitudinal tips.

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