Contrary to previous research which focuses largely on external constraints on expropriation of minority investors, this paper investigates how psychological and socio-political factors affect principal-principal conflicts of interest in firms. We rely on preference heterogeneity and locus of...

This study focuses on the impact of social relations on the efficiency of the governance structure. Social capital which accrues from the dyadic and network relationships between the CEO, the board of directors and corporate owners is argued to have multiple and very different effects on the...

This study examines the impact of company performance and ownership on CEO turnover and tenure in Swiss companies. Both market-based and accounting-based measures of performance are found to increase the likelihood of forced CEO departure yet to be unrelated to CEO tenure. Swiss CEOs are...

We examine the inter-relationships among employee-friendly policies (EFP), innovation through R&D investment, and firm value. We hypothesize that firms with higher levels of innovation and entrepreneurial spirit are more likely to utilize EFP. Furthermore, we speculate that the value-EFP...