- The Experience
- The Programs
- MBA Program
- MSx Program
- PhD Program
- Executive Education
- Stanford Ignite
- Research Fellows Program
- Summer Institute for General Management
- Stanford LEAD Certificate: Corporate Innovation
- Stanford Innovation & Entrepreneurship Certificate
- Executive Program for Nonprofit Leaders
- Executive Program in Social Entrepreneurship
- Executive Program for Education Leaders
- Stanford go.to.market
- Faculty & Research
- Insights
- Alumni
- Events
You are here
Independent Chairman
Independent Chairman
CGRI Research Spotlight Series. Corporate Governance Research Initiative (CGRI), November
2015
This Research Spotlight provides a summary of the academic literature on whether companies with an independent chairman of the board exhibit better governance quality than companies with a dual chairman/CEO. It reviews the evidence of:
- The relation between independent chair and market value
- Shareholder reaction to a decision to separate chairman and CEO roles
- Separation during the succession process
- Separation to improve oversight
- The impact of separation on performance
This Research Spotlight expands upon issues introduced in the Quick Guide Board of Directors: Structure and Consequences.