Managers are currently exhorted by 'gurus' to adopt new management thinking in the face of obvious rapid change and uncertainty. In essence, the new thinking advocates shifting from 'command-and-control' to 'facilitate-and-empower' forms of organization and work. In a survey of senior managers...

In this paper, we test two models of executive pay that have not received much attention in research on Chinese listed companies: managerial power theory and tournament theory. We find that structural power (executive share ownership) and prestige power (executive education) are significantly...