Program News


Featured Research: Is the Staggered Board Debate Really Settled

Martijn Cremers June 2018 150

The debate over staggered boards is heating up, largely because of the appearance of novel studies—including our own prior research—that challenge the results of earlier works documenting a negative impact of staggered boards on firm value. Meanwhile, a third way has appeared in this debate. In a recent article in the University of Pennsylvania Law Review, Settling the Staggered Board Debate, Professors Amihud, Schmid, and Davidoff Solomon (ASDS) purport to settle this debate, arguing that neither the position in favor or against staggered boards “has empirical support and, on average, a staggered board has no significant effect on firm value.” This article by K.J. Martijn Cremers, Simone Sepe, and Saura Masconale addresses the ASDS study and shows that the staggered board debate is very much alive rather than settled.  Read more here.  


The Lucerne Academy

Monday, July 5, 2021

The Lucerne Academy will take place from July 5th through the 9th, 2021.…

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