We conducted a clustered randomized field experiment with 20 Brazilian distributorships of a multi-national direct sales organization to examine whether controlling failure perceptions through formal communications increases performance. We used the organization's weekly sales meetings to...

We examine the implication of management for credit rating quality by focusing on the relation between management tenure and rating quality. Using a large sample of corporate bond issues in the U.S., we find robust evidence that firms with longer-tenured CEOs have lower rating quality, as...

The tactics used by activist hedge funds to target companies continue to command the attention of corporate executives and board members. This report discusses recent cases highlighting activist efforts to replace directors at target companies. It also examines the use of controversial special...

We hypothesize that firms are less likely to disclose information regarding a material negative economic event for which the firm is likely to be blamed than for a negative economic event for which the firm is likely to be perceived as blameless. We identify 383 material negative economic events...

We examine how suppliers' structural decisions (strategic choices regarding scale, scope, and complexity) and executional skills (drivers that support the day-to-day operations of the firm) influence its customer base concentration and, in turn, supplier performance. We investigate our research...

Activist hedge funds merit the attention of corporate directors, as the value of the assets under management increases and activist funds' targets expand well beyond small capitalization companies. This report reviews the tactics used by two prominent activist hedge fund managers to create...

We examine how management control practices relate to the implementation of a corporate lean program at the factory level. Our empirical analysis uses data from a large manufacturing firm that is implementing a corporate lean program in its global plant network. We find that using dedicated...

Motivated by recent changes to corporate governance standards around the world, we use a regulatory shock that substantially altered the governance structure for some firms to shed light on the long-term impact of mandates that are of global interest. Firms affected by this shock had lower...

There has been a rapid increase in shareholder requests for special meetings with the board. This report discusses the potential benefits and complexities of the board-shareholder engagement process, reviews global trends in engagement practices, provides insights into engagement activities at...