The debate about the compensation of executives and directors is a discussion about incentives and agency costs. This article analyzes basic tools to reduce agency costs and also assesses the ongoing debate about the future regulation of the compensation of executives and directors. It draws...

Strong forms of the stakeholder model of corporate governance hold that, in making business decisions, directors should consider the interests of all corporate constituencies (employees, customers, suppliers, shareholders, etc.) in such a way that directors may sometimes decide to transfer value...

Building on prior research (Phillips et al. 2010), we make explicit the implied assumptions – both managerialist and determinist – in stakeholder research. We argue that three elements – managerial discretion, stakeholder orientation and nexus rent – interact in important and...

Surveys among entrepreneurs and managing directors of companies with 50 to 1,000 employees are used to describe features of managerial elites in East Germany. The paper looks at four dimensions: (1) the reproduction of economic elites during the transformation period and its current...

Better managers and managerial practices lead to better firm performance. Yet, little is known about what happens when managers move across firms. Does a firm hiring a good manager improve its performance? If yes is there some valuable knowledge the manager has acquired and successfully diffused...

A number of theories postulate the influence of industry factors and various forms of organizational capital on the strategies and performance of small firms. This study is an empirical test of such assertion by examining how industry and firm-related factors as well as managerial attributes...

We investigate the association between the media coverage of firms' CEO pay packages and subsequent shareholder voting on say-on-pay resolutions, and find that negative media coverage is able to predict shareholder discontent over say on pay. When we divide media coverage into coverage in the...

Better managers and managerial practices lead to better firm performance. Yet, little is known about what happens when managers move across firms. Does a firm hiring a good manager improve its performance? If yes is there some valuable knowledge the manager has acquired and successfully diffused...

This paper assesses whether reducing ‘readability' is an effective obfuscation strategy for influencing the level of shareholder say-on-pay voting dissent in firms with excessive CEO pay. Based on a sample of UK-listed firms, our results indicate that in cases of excessive CEO pay, a less...

Since ages or centuries, we have enough examples of unethical practices some people/party, where other parties get affected, at least to some extent. Sometimes bribe giver and receiver do the act with ‘mutual agreement/consent' and they justify the ‘act'. They accept the ‘act' as harmless...