Corporate Governance-An International Review最新文献

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IF 5.3 3区 管理学
Corporate Governance-An International Review Pub Date : 2023-01-10 DOI: 10.1111/corg.12511
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引用次数: 0
Owners' nonfinancial objectives and the diversification and internationalization of business groups 业主的非财务目标与企业集团的多元化和国际化
IF 5.3 3区 管理学
Corporate Governance-An International Review Pub Date : 2023-01-07 DOI: 10.1111/corg.12507
Alvaro Cuervo-Cazurra, Asli M. Colpan
{"title":"Owners' nonfinancial objectives and the diversification and internationalization of business groups","authors":"Alvaro Cuervo-Cazurra,&nbsp;Asli M. Colpan","doi":"10.1111/corg.12507","DOIUrl":"10.1111/corg.12507","url":null,"abstract":"<div>\u0000 \u0000 \u0000 <section>\u0000 \u0000 <h3> Research Question/Issue</h3>\u0000 \u0000 <p>Studies on business groups, a collection of legally separate firms operating in unrelated industries under common control, tend to compare the behavior of firms affiliated with business groups and firms that are independent companies. Unfortunately, this ignores the diversity among business groups based on their controlling owner. Hence, in this conceptual article, we study how the types of controlling owners impact the diversification and internationalization of business groups.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Research Findings/Insights</h3>\u0000 \u0000 <p>Building on agency theory, we separate business groups into five types based on their ultimate controlling owners (state, labor, family, mutual, and bank) and identify their nonfinancial objectives. We argue that their nonfinancial objectives result in diverging levels of diversification and internationalization of business groups across owner types. Specifically, we propose that state-owned and bank-owned business groups have a relatively high level of diversification, labor-owned and mutual-owned business groups have a relatively moderate level, and family-owned business groups have a relatively low level. We also argue that state-owned and labor-owned business groups have a relatively low level of internationalization, family-owned business groups have a relatively moderate level, and mutual-owned and bank-owned business groups have a relatively high level. We add depth to these ideas by proposing that pro-market reforms alter owners' ability to achieve their nonfinancial objectives, leading to diverging changes in business groups' diversification and internationalization across owner types. Specifically, we propose that following pro-market reforms, state-owned and bank-owned business groups experience a large decrease in their level of diversification, labor-owned and mutual-owned business groups see a moderate decrease, and family-owned business groups have a small decrease. We also argue that pro-market reforms lead state-owned and labor-owned business groups to have a small increase in their level of internationalization, family-owned a moderate increase, and mutual-owned and bank-owned to experience a large increase.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Theoretical/Academic Implications</h3>\u0000 \u0000 <p>To the business groups literature, we highlight the importance of controlling owners and their nonfinancial objectives as the drivers of business group diversification and internationalization, complementing the usual focus on market imperfections. To agency theory, we highlight the diversity of owners' nonfinancial objectives and explain how these affect strategy, complementing the traditional focus on differences in objectiv","PeriodicalId":48209,"journal":{"name":"Corporate Governance-An International Review","volume":null,"pages":null},"PeriodicalIF":5.3,"publicationDate":"2023-01-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45184092","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Corporate Governance: Creating Value for Stakeholders 公司治理:为利益相关者创造价值
IF 5.3 3区 管理学
Corporate Governance-An International Review Pub Date : 2023-01-01 DOI: 10.1007/978-981-99-2707-4
Shital Jhunjhunwala
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引用次数: 0
Institutional cross-ownership and trade credit: Evidence from China 机构交叉所有制与贸易信贷:来自中国的证据
IF 5.3 3区 管理学
Corporate Governance-An International Review Pub Date : 2022-12-23 DOI: 10.1111/corg.12505
Huan Liu, Canran Hou
{"title":"Institutional cross-ownership and trade credit: Evidence from China","authors":"Huan Liu,&nbsp;Canran Hou","doi":"10.1111/corg.12505","DOIUrl":"10.1111/corg.12505","url":null,"abstract":"<div>\u0000 \u0000 \u0000 <section>\u0000 \u0000 <h3> Research Question/Issue</h3>\u0000 \u0000 <p>Relying on enhanced market power and improved information environment associated with institutional cross-ownership, this paper examines the relation between institutional cross-ownership and trade credit in China.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Research Findings/Insights</h3>\u0000 \u0000 <p>Listed firms with cross-ownership can obtain more trade credit. The main conclusion is robust when we consider endogeneity problems, alternative measures of institutional cross-ownership, and the effect of a financial crisis. Further, we perform several tests to examine the influencing mechanisms, confirming that the positive relation between institutional cross-ownership and trade credit is more pronounced for listed firms in more competitive industries, or with poorer information environment. Further analysis also finds that the positive effect of institutional cross-ownership on trade credit is more prominent for listed firms with fewer bank loans.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Theoretical/Academic Implications</h3>\u0000 \u0000 <p>This paper emphasizes information sharing and cooperation among listed firms with institutional cross-ownership and argues that the information improvement effect is a relatively more important mechanism in affecting listed firms' decisions.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Practitioner/Policy Implications</h3>\u0000 \u0000 <p>China's market-oriented reform is in progress and shows some weaknesses in corporate governance and investor protection. The research focusing on institutional cross-ownership can provide useful suggestions for policy makers on how to improve corporate governance and construct efficient capital markets.</p>\u0000 </section>\u0000 </div>","PeriodicalId":48209,"journal":{"name":"Corporate Governance-An International Review","volume":null,"pages":null},"PeriodicalIF":5.3,"publicationDate":"2022-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41598375","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
On the role of internationalization of firm-level corporate governance: The case of audit committees 论公司治理国际化的作用——以审计委员会为例
IF 5.3 3区 管理学
Corporate Governance-An International Review Pub Date : 2022-12-04 DOI: 10.1111/corg.12503
Aaron Afzali, Minna Martikainen, Lars Oxelheim, Trond Randøy
{"title":"On the role of internationalization of firm-level corporate governance: The case of audit committees","authors":"Aaron Afzali,&nbsp;Minna Martikainen,&nbsp;Lars Oxelheim,&nbsp;Trond Randøy","doi":"10.1111/corg.12503","DOIUrl":"https://doi.org/10.1111/corg.12503","url":null,"abstract":"<div>\u0000 \u0000 \u0000 <section>\u0000 \u0000 <h3> Research Question/Issue</h3>\u0000 \u0000 <p>Motivated by the agency theory and the findings of linguistic studies, we analyze the association between the internationalization of a firm's audit committee and its corporate governance.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Research Findings/Insights</h3>\u0000 \u0000 <p>Based on data from 2159 publicly traded European firms from 15 countries for the period 2000–2018, we find that firms with foreign directors on their audit committees are associated with lower financial reporting quality. The association is mitigated by stronger country-level investor protection and a higher similarity among intra-committee languages. We further find that foreign directors on the audit committee are related to stock prices being less informative about future earnings.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Theoretical/Academic Implication</h3>\u0000 \u0000 <p>In this study, we argue that language differences create communication difficulties that weaken social integration between foreign directors and the other parties involved in overseeing financial reporting, thus hampering their ability to monitor effectively.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Practitioner/Policy Implications</h3>\u0000 \u0000 <p>The results indicate that foreign directors on a corporate board increase its independence. However, appointing foreign directors to the firm's audit committee may compromise the board's monitoring function.</p>\u0000 </section>\u0000 </div>","PeriodicalId":48209,"journal":{"name":"Corporate Governance-An International Review","volume":null,"pages":null},"PeriodicalIF":5.3,"publicationDate":"2022-12-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/corg.12503","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50120279","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Climate-linked compensation, societal values, and climate change impact: International evidence 与气候相关的补偿、社会价值观和气候变化影响:国际证据
IF 5.3 3区 管理学
Corporate Governance-An International Review Pub Date : 2022-11-30 DOI: 10.1111/corg.12504
Sudipta Bose, Natasha Burns, Kristina Minnick, Syed Shams
{"title":"Climate-linked compensation, societal values, and climate change impact: International evidence","authors":"Sudipta Bose,&nbsp;Natasha Burns,&nbsp;Kristina Minnick,&nbsp;Syed Shams","doi":"10.1111/corg.12504","DOIUrl":"10.1111/corg.12504","url":null,"abstract":"<div>\u0000 \u0000 \u0000 <section>\u0000 \u0000 <h3> Research question/issue</h3>\u0000 \u0000 <p>We examine whether linking executive compensation to climate-related performance is associated with better firm-level climate change impact. We also explore the interaction of culture and climate-linked incentive compensation with climate change impact.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Research findings/insights</h3>\u0000 \u0000 <p>Using firm-level climate change strategy and carbon emissions to measure climate change impacts, we find that climate-linked compensation is associated with improved climate change strategy. Climate-related incentives for the CEO and other (operational) executives are found to be negatively associated with firm-level carbon emissions, although the relationship is not as strong; however, no such association is found for climate-linked compensation of the board and top-3 executives. Country-level attitudes to whether solutions for environmental issues are considered a joint (society) responsibility versus an individual's personal responsibility are found to have an effect on the association between climate-linked compensation and climate change impacts. We also find that country-level cultural views enhance the positive association between climate-linked compensation and climate change strategy but not the association with actual firm-level carbon emissions. Further analysis shows that non-US firms drive our study's findings. Finally, improvement in climate strategy is found to have a positive effect on Tobin's Q but has no effect on profitability.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Theoretical/academic implications</h3>\u0000 \u0000 <p>Academic research is growing on the role of climate change risk and carbon emissions in corporate decisions. The findings of our study are important given that linking executives' compensation with climate performance is gaining momentum. To the best of our knowledge, this is the first study to examine any link between climate-linked compensation and climate change impact.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Practitioner/policy implications</h3>\u0000 \u0000 <p>While climate-linked compensation is associated with positive changes in climate strategy, its association with firm-level carbon emissions is promising. This is particularly the case when this compensation is offered to executives who are likely to make operational decisions with a direct impact on a firm's carbon footprint and carbon emissions.</p>\u0000 </section>\u0000 </div>","PeriodicalId":48209,"journal":{"name":"Corporate Governance-An International Review","volume":null,"pages":null},"PeriodicalIF":5.3,"publicationDate":"2022-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47425109","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Does board gender diversity reduce workplace sexual harassment? 董事会的性别多样性是否减少了工作场所的性骚扰?
IF 5.3 3区 管理学
Corporate Governance-An International Review Pub Date : 2022-11-30 DOI: 10.1111/corg.12496
Shiu-Yik Au, Andréanne Tremblay, Leyuan You
{"title":"Does board gender diversity reduce workplace sexual harassment?","authors":"Shiu-Yik Au,&nbsp;Andréanne Tremblay,&nbsp;Leyuan You","doi":"10.1111/corg.12496","DOIUrl":"10.1111/corg.12496","url":null,"abstract":"<div>\u0000 \u0000 \u0000 <section>\u0000 \u0000 <h3> Research Question/Issue</h3>\u0000 \u0000 <p>We contrast the predictions of gender socialization theory and “fem-power washing” (deceptively positioning as a firm promoting female empowerment without any tangible actions) to investigate whether promoting female directors on the board of directors associates with a reduction in the prevalence of firm-level workplace sexual harassment (SH).</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Research Findings/Insights</h3>\u0000 \u0000 <p>We estimate the incidence rate of SH through textual analysis of US employees' job reviews published online during the period 2011–2021. We find that an increase of one female director is associated with a 21.81% decrease in workplace SH and that firms with high board gender diversity synchronize the reduction in SH with improved social policies (e.g., policies to better employee relations, health and safety, or diversity challenges). Our results do not support the fem-power washing theory but rather imply that nominating female directors may have a profound impact on the firm's ethical culture.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Theoretical/Academic Implications</h3>\u0000 \u0000 <p>This study validates the ethical dimension of corporate governance: Nominating female directors impacts a firm harassment culture and, by extension, a firm's ethical and corporate culture. This study adds to the governance literature that debates the merits of board gender diversity by highlighting an oft-ignored channel through which board diversity affects firm value: ethics and corporate culture.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Practitioner/Policy Implications</h3>\u0000 \u0000 <p>For boards of directors, having more female directors can curb workplace SH, a behavior that is associated with a severe and lasting negative effect on firm value. For practitioners, regulators, and the business community, this study reinforces the merits of aiming towards more gender-balanced boards.</p>\u0000 </section>\u0000 </div>","PeriodicalId":48209,"journal":{"name":"Corporate Governance-An International Review","volume":null,"pages":null},"PeriodicalIF":5.3,"publicationDate":"2022-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/corg.12496","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46017590","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Boardroom racial diversity: Evidence from the Black Lives Matter protests 董事会会议室种族多样性:来自“黑人的命也是命”抗议活动的证据
IF 5.3 3区 管理学
Corporate Governance-An International Review Pub Date : 2022-11-29 DOI: 10.1111/corg.12497
Anete Pajuste, Maksims Dzabarovs, Romans Madesovs
{"title":"Boardroom racial diversity: Evidence from the Black Lives Matter protests","authors":"Anete Pajuste,&nbsp;Maksims Dzabarovs,&nbsp;Romans Madesovs","doi":"10.1111/corg.12497","DOIUrl":"10.1111/corg.12497","url":null,"abstract":"<div>\u0000 \u0000 \u0000 <section>\u0000 \u0000 <h3> Research Question/Issue</h3>\u0000 \u0000 <p>This paper provides evidence that the Black Lives Matter (BLM) protests that followed the killing of George Floyd on May 25, 2020, brought immediate changes to the US corporate boards.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Research Findings/Insights</h3>\u0000 \u0000 <p>Using a sample of S&amp;P 500 index companies, we find that companies with higher representation of Black directors are associated with higher stock returns during the mass BLM protests. Within 1 year after the BLM protests, 10.7% of the sample firms hired at least one Black director (compared to having no Black representation on the board before the protests), and 31% of the newly appointed directors were Black. We find that companies typically add new diverse directors by increasing the board size, but there is no evidence of negative value effect or decreasing director quality.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Theoretical/Academic Implications</h3>\u0000 \u0000 <p>We have observed increased disclosures of racial equity topics in the proxy statements, as well as significant increase of Black director representation in the boards. In the meantime, we do not find any valuation or stock performance effects related to boardroom racial diversity 1 year after the BLM protests.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Practitioner/Policy Implications</h3>\u0000 \u0000 <p>Mass protests play an important role in shaping corporate governance responses. The finding that racial diversity can be increased at an unprecedented speed without loss in value is consistent with the view that a boost in boardroom diversity is possible under strong multichannel pressure from investors, consumers, employees, and regulators.</p>\u0000 </section>\u0000 </div>","PeriodicalId":48209,"journal":{"name":"Corporate Governance-An International Review","volume":null,"pages":null},"PeriodicalIF":5.3,"publicationDate":"2022-11-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43888353","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Challenge in the boardroom: Director–manager question-and-answer interactions at board meetings 董事会面临的挑战:董事会会议上董事与经理的问答互动
IF 5.3 3区 管理学
Corporate Governance-An International Review Pub Date : 2022-11-21 DOI: 10.1111/corg.12492
Helen R. Pernelet, Niamh M. Brennan
{"title":"Challenge in the boardroom: Director–manager question-and-answer interactions at board meetings","authors":"Helen R. Pernelet,&nbsp;Niamh M. Brennan","doi":"10.1111/corg.12492","DOIUrl":"10.1111/corg.12492","url":null,"abstract":"<div>\u0000 \u0000 \u0000 <section>\u0000 \u0000 <h3> Research question/issue</h3>\u0000 \u0000 <p>Corporate governance codes of practice require non-executive directors (NEDs) to challenge and question managers. Prior literature and best practice guidance remain silent on the precise meaning of, and on how directors might execute, “challenge”, and how management might respond. We explore the ways in which NEDs challenge, question, and dissent during board meetings, and how managers respond. We observe, audio-record, and video-record three boards during nine board meetings. Our boards are unique in holding part of their meetings in public and part in private.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Research findings/insights</h3>\u0000 \u0000 <p>Our dataset comprises 418 questions and 510 answers. We develop a typology of NEDs' challenge/questions comprising six categories/48 subcategories and managers' responses/answers comprising eight categories/69 subcategories. Our findings support the assertion that NEDs may be reluctant to offer moderate (i.e., constructive) challenge in public. We find significant differences between the level of dissent and the types of answers offered in public versus in private. We find an association between the type of question asked and the type of answer provided. Who asks and answers questions varies significantly in public versus in private, as do the questions and answers by each board.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Theoretical/academic implications</h3>\u0000 \u0000 <p>Our empirical findings suggest board behavior varies in the presence of an audience of stakeholders. In public, boards go through the motions by engaging in the performativity of governance, while more substantive governance occurs in private.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Practitioner/policy implications</h3>\u0000 \u0000 <p>We show that regulatory calls for robust challenge by NEDs have not been met, at least judging by the three boards in our study. There is a lack of guidance and advice on how NEDs should exercise challenge and how managers might respond.</p>\u0000 </section>\u0000 </div>","PeriodicalId":48209,"journal":{"name":"Corporate Governance-An International Review","volume":null,"pages":null},"PeriodicalIF":5.3,"publicationDate":"2022-11-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/corg.12492","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49144175","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
A configurational perspective of boards' attention structures 董事会注意结构的构型视角
IF 5.3 3区 管理学
Corporate Governance-An International Review Pub Date : 2022-11-14 DOI: 10.1111/corg.12493
Eduardo Schiehll, Krista Lewellyn, Wenxi Yan
{"title":"A configurational perspective of boards' attention structures","authors":"Eduardo Schiehll,&nbsp;Krista Lewellyn,&nbsp;Wenxi Yan","doi":"10.1111/corg.12493","DOIUrl":"10.1111/corg.12493","url":null,"abstract":"<div>\u0000 \u0000 \u0000 <section>\u0000 \u0000 <h3> Research Question/Issue</h3>\u0000 \u0000 <p>What combinations of board attributes and contextual factors explain boards' selective distribution of attention between their dual role of resource provisioning and monitoring? At the board level, we consider board structure and breadth of knowledge, while the context in which boards operate is captured by the degree of external scrutiny, operational complexity, performance, and ownership structure.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Research Findings/Insights</h3>\u0000 \u0000 <p>Our study demonstrates that there are multiple ways board attributes bundle and combine with important elements of the context to promote similar board attention structures. Our findings provide evidence of the causal complexity underlying this phenomenon and corroborate the notions of equifinality and asymmetric causality among board-, firm-, and institution-level conditions conducive to boards allocating more attention to either their resource provisioning or monitoring roles.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Theoretical/Academic Implications</h3>\u0000 \u0000 <p>Our findings support the attention-based view (ABV), suggesting that boards' selective distribution of attention is regulated by the combination of skills and knowledge directors bring to the firm and the stimuli provided by contextual factors. In doing so, we underscore the need for an extended theory on board effectiveness, as resource dependence- and agency-based prescriptions about boards' behavior may be incomplete, since there is limited consideration by these theories of the bounded rationality of directors and the complex relationships between the factors that can frame boards' selective distribution of attention.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Practitioner/Policy Implications</h3>\u0000 \u0000 <p>Our study informs efforts to disentangle the conditions under which different attributes combine and regulate boards' distribution of attention, which has implications for nomination committees and powerful actors who have influence on board appointments. Because our results reveal several causal paths that can promote similar board attention structures, decision makers may wish to recruit directors with specific attributes that will be the best fit for the firm's contextual conditions.</p>\u0000 </section>\u0000 </div>","PeriodicalId":48209,"journal":{"name":"Corporate Governance-An International Review","volume":null,"pages":null},"PeriodicalIF":5.3,"publicationDate":"2022-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/corg.12493","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48055639","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
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