Executives confront potentially conflicting pressures - to maximize shareholder wealth in the long term and to appease shareholders in the near term. Because near-term pressures must be addressed to preserve tenure and to realize the potential benefits of long-term strategies, executives are...

Over the years since airline deregulation five of the remaining U.S. legacy carriers lost money on mergers that cost them a total of $29.6 billion. The combined market cap of these carriers at the end of 2007 was $15.5 billion. In other words, their return on merger investments was -48%. Why?...

This paper seeks to determine the criteria for choosing restructuring strategies for declining or distressed enterprises. First, the paper differentiates between different stages of decline and different levels of distress, of which bankruptcy is an application. Second, it reviews the different...

There are two conflicting views on diversity management: DM as a management response to the political enforcement of societal goals in equality and justice, and DM as a tool to activate human potential and creativity. This article attempts to synthesize both views in a new ap-proach based on...

There is a tradition in modern business scholarship to see the corporation as a political actor. S.P. Waring argues that the modern business corporation is a polity, Herbert Kaufman views political theorists and management theorists as merely quot;different species of the same genus,quot; while...

I study how to allocate control (over one or multiple projects) when people may openly disagree on the optimal course of action.I first show that, in the efficient allocation, complementary decisions should be decided by the same person, while substitute decisions should be decided by different...

This paper builds on a recent article by Elisabet Garriga and Domegrave;nec Meleacute;, in which they provided an overview of the main approaches in current CSR (Corporate Social Responsibility) research. It applies their general approach to CSR research aimed specifically at the international...

I find evidence consistent with managers manipulating real activities to avoid reporting annual losses: price discounts to temporarily increase sales, overproduction to report lower cost of goods sold, and reduction of discretionary expenditures to improve reported margins among firms reporting...

In this paper, we develop an integrated perspective on how legitimacy concerns affect organizational networks. We do this in the context of firms committing unethical acts. Using legitimacy theories and theories of the dynamics of status hierarchies, we hypothesize that network partner quality...

Enron's demise and the corporate investigations that ensued have reinvigorated the debate on managerial fiduciary duty. Some have argued that the recent stock bubble and the ensuing revelations of managerial malfeasance merely repeat history: Capitalism regularly corrects market exuberance and...