The paper develops a theoretical model to better understand how the role (control versus direction) of the board of directors is influenced by the ownership structure and how that affects the board effectiveness. Most corporate governance research focuses on a universal link between corporate...

Research summary: Building on the comparative capitalism's notion of institutional complementarities, we examine whether firms' simultaneous adoption of managerial entrenchment provisions (MEPs) and corporate social responsibility (CSR) activities reinforces or undercuts one another in...

Research summary: Drawing on the “varieties of capitalism” literature, we develop an actor-centered framework that explains firm-level corporate social performance (CSP) by emphasizing the importance of considering owners' and other stakeholders' motives towards CSP — which can be...

The objective of this study is to investigate the relationship between stock market performance and ownership structure during plummeting and soaring financial markets in a Continental-European setting. Our results demonstrate the importance of ownership concentration, the presence of multiple...

Corporate governance research has largely focused on internal governance mechanisms (i.e., the board of directors, controlling owners, and managerial incentives). However, much of this work ignores the role that external corporate governance practices play in preventing managers from engaging in...

We ask whether and when shareholder-oriented foreign owners are likely to change corporate governance logics in a stakeholder-oriented setting by introducing shareholder-oriented governance practices. We focus on board monitoring and claim that because the bundle of practices used in a...

We analyze how ownership concentration and type, and board independence are related to corporate social performance (CSP). Drawing from agency, team production and stakeholder perspectives, we argue that the distribution of costs and benefits to shareholders and other stakeholders is crucial to...

Using theory and empirical data from social psychology to measure for cultural differences between countries, we study the effect of individualism as defined by Hofstede (1980) and egalitarianism as defined by Schwartz (1994, 1999, 2004) on earnings management. We find a significant influence of...

The objective of this study is to investigate the relationship between stock market performance and ownership structure during plummeting and soaring financial markets in a Continental-European setting. Our results show the importance of ownership concentration, the presence of secondary...