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This study focuses on CEO hubris and its detrimental effect on corporate financial performance along with an examination of critical corporate governance contingencies (CEO power and board vigilance) that may moderate the negative effect. From 654 observations of 164 Korean firms over the years 2001-2008, we found that CEO power exacerbated the negative effect of CEO hubris on corporate financial performance, whereas board vigilance mitigated it. This study provides empirical evidence that entrenchment problems arising from CEO hubris would be exacerbated as CEOs become more powerful, but weakened as board of directors become more vigilant. Theoretical contributions and practical implications will be discussed.

A highly transparent single‐layer frequency selective surface (FSS) with an optical transmittance of 92.7% at 550 nm, designed for 5G communication systems operating in dual frequency bands of 26 and 38 GHz is proposed. The dual‐band FSS not only achieves high optical transparency but also maintains good electrical performance. The transmission performance of the FSS is stable to the polarization and angles of incidence for electromagnetic waves. As a proof of concept, the FSS with periodic square loops patterned on a 188‐µm‐thick substrate is fabricated. Each loop is constructed with metallic mesh electrodes having a pitch of 10 µm. Measurements are conducted using two different systems: a free‐space measurement system and a vector network analyser‐based material characterization kit. After calibrating the measurement systems, the scattering parameters of the fabricated surface are measured. The results obtained from both measurement systems show good agreement and also agree with the simulated results. The designed surface has an insertion loss of less than 3 dB in the dual passband region. The proposed dual‐band FSS has the merits of polarization independence, angular insensitivity, and high transparency. We propose highly transparent (optical transmittance 92.7% at 550 nm) single‐layer frequency selective surface operating in dual frequency bands of 26 and 38 GHz for 5G communication systems. The dual‐band bandpass filter achieves not only high optical transparency but good electrical performance.