This article concerns the determination of executive pay in the UK and Germany. These economies have very different corporate governance structures and we examine whether this has implications for executive pay outcomes. Our research shows that average pay in the UK was about pound 391,000 in...

To understand the management of strategic change, organizations must be situated in their broader institutional contexts. This article focuses on 'state-political firms', companies owned or heavily influenced by the state and operating in state-dominated business systems, and explores the...

This article describes a business transformation exercise conducted in Coats Viyella Clothing Knitwear (a major, UK based knitwear supplier). At the start of the work, Coats Viyella faced difficult business circumstances that threatened the continued success of the company. During the course of...

This paper is concerned with the image of two large engineering firms,both based in the UK, but with global ambitions rapidly being realized. In both cases, the firm's image had conveyed the impression of a Midland's 'metal-basher', a traditional engineering firm manufacturing a wide range of...

This article brings strategy back to managers and their organizations. It argues and demonstrates empirically that what managers do, and the kind of organization they lead, matter in terms of achieving stated objectives. Managerial action involves a set of activities from assessing the problem...

Who are the key people involved in making and implementing the big decisions that set the strategic direction for a firm? Do those who decide also see things through to implementation - and who amongst them wields the most influence? Drawing on data from a study of the making and implementing of...

We find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite-weighted patents). To explore the mechanism through which this link arises, we build a model that nests the lazy-manager hypothesis with career-concerns, where institutional...

Many potential benefits of foreign expansion have been identified in the literature, yet empirical support that multinational firms perform better than domestic firms is mixed. This paper takes a longitudinal perspective and argues that how much a firm benefits from having foreign subsidiaries...

This paper examines the longevity of foreign entries. Hypotheses are developed on the mode (start-ups vs. acquisitions) and ownership structure (wholly owned vs. joint ventures) in relation to cultural distance. The hypotheses are tested within a framework of organizational learning, using data...

Extant evidence on the effect of corporate diversification paid little attention to the role of diversification strategy on capital structure decisions. Using data from 789 publicly listed firms in China during 2000 and 2006, this paper analyzes financing choices of single-segment versus...