Lehman Brothers: Peeking Under the Board Facade

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Title:
Lehman Brothers: Peeking Under the Board Facade
Year: 
2010
Publication: 
Stanford Closer Look Series
Volume: 
CGRP03
Issue: 
June 4, 2010
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Language: 
English
URL: 
http://www.gsb.stanford.edu/sites/default/files/documents/CGRP03-LehmanBoard_0.pdf
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No License (All right reserved)
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Abstract:

Lehman Brothers: Peeking Under the Board Facade

Closer Look Series: Topics, Issues and Controversies in Corporate Governance, No. CGRP-03 (Professor David F. Larcker and Brian Tayan, MBA ’03,
Date: 06-04-2010
)

Governance experts place considerable emphasis on structural attributes of the board. Many boards are now indistinguishable in terms of regulatory independence, size, and personal and professional composition. And yet, two companies can look quite similar in terms of board structure and have very different board quality. Has an emphasis on best practices for board structure led to a decrease in board quality?

We explore this question by comparing the board of Lehman Brothers to Goldman Sachs.

The Closer Look series is a collection of short case studies through which we explore topics, issues, and controversies in corporate governance. In each study, we take a targeted look at a specific issue that is relevant to the current debate on governance and explain why it is so important. These free instructional materials may be used in the classroom.

To receive monthly alerts about the Closer Look series, please email the Stanford Corporate Governance Research Program at corpgovernance@gsb.stanford.edu. You can also follow more corporate governance news on Twitter: @StanfordCorpGov .  To view the entire collection of  Stanford Closer Looks please click here.

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