Divergent views exist about whether boards must tradeoff advising for monitoring performance when utilizing outside versus inside directors. We suggest a dichotomous tradeoff focus underestimates outside directors' impact on board performance. We find outside director tenure positively...

This paper reviews the theory and evidence for agency theory-based explanations for employee stock ownership plans found in the financial participation literature. The UK Workplace Employee Relations Survey 1998 is used to test whether share plans substitute for direct monitoring and individual...

Purpose – Higher education (HE) in the UK has recently suffered financial pressure due to reduced central funding, and the requirement to widen student access. The estate is typically the second highest revenue expense and is an obvious target for efficiency gains. Sector‐wide statistics...

We investigate the relationship between the slope of the wage-tenure profile and the level of monitoring across two cross sections of matched employer-employee British data. Our theoretical model predicts that increased monitoring leads to a decline in the slope of the wage-tenure profile. Our...