Purpose – The purpose of this paper is to explore the effects of large shareholdings from the agency problem perspective of overinvestment, and re‐test the role of board independence in the context of concentrated ownership. Design/methodology/approach – Using a five‐year panel data of...

Purpose – This paper seeks to examine the differences between executives and investors in the perception of determinant factors in executive compensation. Design/methodology/approach – From a survey instrument comprised of archival executive compensation determinant items, a factor analysis...

Purpose – There is no previous systematic and theoretical investigation of the interim CEO succession practice. This research attempts to fill the gap by studying this phenomenon and hence advance executive succession research/practice. Design/methodology/approach – Based on agency theory,...

Purpose – This paper aims to concentrate on the prevailing agency theory along with its complementary theory of stewardship as foundations for the authors' research. Recent economic turmoil within the USA has resulted in stakeholders demanding change within governance policies of corporations....

Relationships between corporate governance characteristics and financial distress status are examined for a sample of Canadian firms. Results from logit regression analysis of 46 financially distressed and 46 healthy firms lead us to conclude that the board of director’s composition explains...

This study is an extension of research which links top management team characteristics and the use of a variety of business strategies. Agency theory and information processing theory provided the framework used to investigate the complex business strategies of 219 Japanese firms in four...

The March 2000 Budget in the UK introduced tax incentives to encourage employee shareholding. The theory is that if employees feel that they have a stake in the enterprise or organisation in which they work, they will be more motivated and committed, with positive outcomes in terms of...

The findings from a number of studies conducted at Cranfield School of Management exploring executive succession, are presented. Five critical considerations for executive succession are identified. These are, the need to respect context, effectively managing the dynamics of top teams, being...

Corporate governance has emerged from obscurity into being a mainstream topic about which there is a need to know, as well as being incorporated into industrial and commercial training courses. There has been a plethora of reports starting in the USA and spreading to the UK, which has then...

Empirical research identifies the strategic power of corporate values in influencing the success of organizations. Presents qualitative research which elicits chairmen’s values expressed through value maps. Presents two such maps, both of which were extracted from interview transcripts using...