The allocation of decision rights is an integral component of designing organizational architecture. Economists have long understood the importance of co-locating decision rights with the knowledge that is valuable to those decisions. Following this prescription, marketing scholars have...

As it is widely believed that the behaviour of large Japanese companies is different from that of their British counterparts, hypothesises that the directors in both countries may have different financial incentives. The research estimates the determinants of executive compensation, using the...

In the UK, the top executive remuneration policy is not geared towards the creation of value but compensation revisions are rather driven by changes in corporate size, measured by sales growth. This suggests that managing larger firms requires special managerial skills. Even in UK companies with...

Taking into account that it is in the nature of the modern corporat ion that risks are distributed over several agents, we discuss in this paper the organisational behaviour as it results from such dispersal of responsibilities for both the principal and the agent. We explore the hypothesis that...