Falato, Antonio; Kadyrzhanova, Dalida; Lel, Ugur - In: Journal of Financial Economics 113 (2014) 3, pp. 404-426
We use the deaths of directors and chief executive officers as a natural experiment to generate exogenous variation in the time and resources available to independent directors at interlocked firms. The loss of such key co-employees is an attention shock because it increases the board committee...
