Does the one man show pay? Theory and evidence on the dual CEO revisited
提出每家公司都有最优的董事会结构，且因公司、时间而异；回顾现有实证证据发现多数研究忽略了这一点，并指出美英领导结构差异显著，呼吁国际研究。
Contrary to the view expressed in several countries and the corresponding pressure exerted by shareholder activists and regulators to separate the titles of CEO and Board Chairman, this study proposes that there is an optimal board composition for each firm, which varies across firms and over time. A review of the extant empirical evidence reveals that most prior studies bypass this notion which raises serious implications for related empirical studies. In addition, this study documents striking differences in leadership structures between the US and the UK and calls for further research in an international context.