This article contributes to the literature on board effectiveness by being perhaps the first to systematically examine how the nature of outside directors' prior experience, and resulting expertise, will influence the performance of a focal firm's strategic initiatives. Our theoretical model is...

This paper theorizes that relatively poor firm performane can prompt chief executive officers (CEOs) to seek more advice from executives of other firms who are their friends or similar to them and less advice from acquaintances or dissimilar others and suggests how and why this pattern of advice...

This study develops and tests predictions regarding factors that influence early-stage CEO evaluation. We suggest that contextual elements of the CEO succession process will influence the heuristics directors employ to aid in their early evaluation of a CEO because traditional performance...

We develop and test a novel theory about strategic noise with regard to CEO appointments. Strategic noise is an anticipatory and preemptive form of impression management. At the time it announces a new CEO, a board of directors seeks to manage stakeholder impressions by at the same time...

The Behavioral Theory of the Firm suggests that performance below an aspiration triggers problemistic search that can lead to organizational change and risk-taking. This compelling perspective has spawned considerable empirical examination of diverse strategic outcomes as firms’ responses to...

In this study we consider how and when interpersonal relations between chief executive officers (CEOs) and journalists can influence the content of journalists' reporting about corporate leaders and their firms. Specifically, we draw from the social psychological literature on interpersonal...

We propose a behavioral theory of corporate governance based on an ontological foundation of socially situated and socially constituted agency. More specifically, we advance a multi-level, mechanisms-based, theory of governance that is socially informed yet actor-centric, and thus offers a...

This study advances a social constructionist view of financial market behavior. The paper suggests that the market's reaction to particular corporate practices, such as stock repurchase plans, are not, as financial economists contend, simply a function of the inherent efficiency of such...

In this study, we consider the social process by which the corporate elite may have resisted pressure from stakeholders to adopt changes in corporate governance that limit managerial autonomy. We examine (1) how directors who participate in corporate governance changes that reflect greater board...