Faculty Mentor/s:

Prof. Jesus Salas, Finance


Student names: 

Ben Murphy-Schmehl

Chenxi Cao

Huanxiu Wu

Isabella Egizio

Jared Miller

Katherine Le

Ozward Yuan


Project Description:

One of the most well-known problems plaguing publicly traded corporations is known as the principal-agent problem. Executives (agents) manage the company for the shareholders (principals), who are generally dispersed and so have a difficult time monitoring executives. One “solution” for the principal-agent problem is to have boards of directors that supervise executives. Some of these directors must be “independent,” which means that they are not employees or relatives of any executive in the publicly traded company. While there is a vast literature on directors and the boards they sit on, virtually nothing is known about the process of replacing independent directors. So, in this project, students will attempt to answer some key questions about this process, based on available data which has been collected but not analyzed.


Month/Year Project Began:  
May 2022