Fung Institute Faculty Director Lee Fleming presented his work on Independent Boards and Innovation to the Federal Reserve Bank of Kansas City.  The work (co-authored with Gustavo Manso and Ben Balsmeier) looks at firms whose boards were forced to become more independent by Sarbanes Oxley. While such firms invent more patents, those patents are much less novel and exploratory.

Click here for presentation slides.

Click here for paper.