Download or read book Essays on the Monitoring Role of Corporate Boards written by Chang Liu and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation contains two essays that study the monitoring role played by corporate boards. The first essay provides a new perspective to the multiple directorships literature, which focuses on outside directors. Inside directors, however, are important both in the boardroom and day-to-day operations of the firm. I find that any negative effect of director busyness is more pervasive for inside directors than for outside directors. Additional analysis reveals that bidding firms' acquisition announcement returns are decreasing in inside director board appointments, but there is no such effect for outside directors. These results highlight the importance of inside directors and demonstrate that firm performance can be compromised when they sit on multiple boards.