Although shareholder activism has gained in importance over the years and a growing body of literature has investigated activism-related problems companies face, little is known about activism by small individual shareholders. We attempt to fill this void by investigating under which conditions...

Contrary to previous research which focuses largely on external constraints on expropriation of minority investors, this paper investigates how psychological and socio-political factors affect principal-principal conflicts of interest in firms. We rely on preference heterogeneity and locus of...

This study focuses on the impact of social relations on the efficiency of the governance structure. Social capital which accrues from the dyadic and network relationships between the CEO, the board of directors and corporate owners is argued to have multiple and very different effects on the...

This study examines the impact of company performance and ownership on CEO turnover and tenure in Swiss companies. Both market-based and accounting-based measures of performance are found to increase the likelihood of forced CEO departure yet to be unrelated to CEO tenure. Swiss CEOs are...

We examine the inter-relationships among employee-friendly policies (EFP), innovation through R&D investment, and firm value. We hypothesize that firms with higher levels of innovation and entrepreneurial spirit are more likely to utilize EFP. Furthermore, we speculate that the value-EFP...

We investigate how firms’ responses to misconduct change when the institutional environment becomes more stringent. Organizational theory offers conflicting perspectives on whether new legislation will increase or decrease pressure on firms to take remedial action following misconduct. The...

We explore how the Sarbanes–Oxley Act of 2002 created pressure for firms to take more visible and costly corrective action following the announcement of an earnings restatement. Building on theory about focusing events, the institutional effects of legislative change, and the agenda-setting...

We examine the inter-relationships among employee-friendly policies (EFP), innovation through R&D investment, and firm value. We hypothesize that firms with higher levels of innovation and entrepreneurial spirit are more likely to utilize EFP. Furthermore, we speculate that the value-EFP...

We are interested in examining the process of scandal creation through the lens of the audience. Extant work tends to address either the effects of scandal or the role of the media and social control agents in scandal creation, neglecting the audience. To address this gap, we draw on the...