Cohen and Wang (2013) (CW2013) provide evidence consistent with market participants perceiving staggered boards to be value reducing. Amihud and Stoyanov (2016) (AS2016) contests these findings, reporting some specifications under which the results are not statistically significant. We show that the results retain their significance under a wide array of robustness tests that address the concerns expressed by AS2016. Our empirical findings reinforce the conclusions of CW2013.

Maternal and neonatal mortality rates in the slums of Nairobi, Kenya are among the highest in the world. Mounting evidence suggests that delivering in a facility is not enough to ensure mortality reductions: women must deliver in high-quality facilities and arrive early enough for appropriate care if complications arise. We designed an RCT combining labeled cash transfers and pre-commitment incentives to encourage earlier and more effective delivery facility choice and to promote earlier facility arrival. We find that the intervention improves planning, increases delivery at the desired facility, and encourages more timely arrival at delivery facilities.