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On one hand, managers, and especially CEOs, are hired and paid to exercise their managerial discretion. On the other hand, within the agency theory approaches to corporate governance, managerial discretion is a source of moral hazard to be removed by incentives or monitoring. In this paper we...
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Drawing on interviews with 40 FTSE100 CEOs we extend the interpretive literature on identity work to top level managers, bringing into play a different balance of autonomy and constraint from previous studies. Four core (but overlapping) identities are observed: the leader and strategist, the...
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Informed by agency theory, the dominant theory and practice of CEO pay both exclude non-monetary incentives and treat money itself as pure exchange value. Drawing on the economics of non-monetary incentives and the sociology of money, we use qualitative evidence from UK FTSE100 CEOs, to...
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