In this study, we investigate why CEOs seem to be held more accountable for poor firm performance in some countries than others. We integrate research from comparative corporate governance and agency theory to identify and evaluate four fundamental assumptions underlying most theoretical...

Existing research has documented the role that CEOs, and especially CEO regulatory focus, play in shaping firm strategy. Yet, the impact of CEOs is constrained by that of the other executives in the firm, and the strategic leadership literature has repeatedly called for more research that...

Research summary: Using a principal-principal agency theory lens we examine corporate governance and compensation design in family-owned businesses. We conceptualize how CEO pay and pay-performance sensitivity is influenced by whether the CEO is a professional or drawn from the controlling...

It is now well-established that Business Groups (BGs) - an inimitable multi-firm structure that enables legally distinct firms to take coordinated action, constitutes a dominant organizational form in many economies around the world. The BG phenomenon has attracted sustained scholarly attention...