This study explores the competing influences of different types of board interlocks on diffusion of a strategic initiative among a population of firms. We examine a broad social network of interlocking directors in U.S. firms over a period of 17 years and consider the likelihood these firms will...

This research extends agency theory by exploring the influence of diverse, and competing, principal interests on executive actions. Findings reveal that dedicated institutional investors, who hold concentrated portfolios over time, are positively associated with strategic competitive actions....

Tournament theory suggests that a large gap in pay between CEOs and top managers can provide incentives to perform, but we argue that it can also elicit negative effort and even motivate the kind of behavior that leads to lawsuits. We posit that this negative effort is greater when firms have...