Governance & Leadership
Read this post and learn: Three reasons for top management team (TMT) structure development: instrumental, institutional, and instructionalist The interplay of formal and informal structures: competing vs. complementary dynamics It…
Read More about How Should Top Management Teams be Structured?As firms consider transitioning proprietary products to more open platforms to grow market share and relevance, we suggest that managers consider the concerns of external participants when designing a system…
Read More about From proprietary to collective governanceExecutives often prioritize maximizing immediate returns over investing to build a long‐term competitive advantage. How they think about the future offers one explanation for this short‐termism. This article distinguishes two…
Read More about Time and Space in Strategy Discourse: Implications for Intertemporal ChoiceThis article examines the effect of negative news on financial risk. It shows that negative media articles regarding environmental, social, and governance (ESG ) issues increase a firm’s credit risk.…
Read More about How media coverage of corporate social irresponsibility increases financial riskInvestors and entrepreneurs face uncertainty when deciding what firms to start and fund. We show that an intermediation effort to make entry easier for entrepreneurs increases the uncertainty that entrepreneurs…
Read More about The Dark Side of Institutional IntermediariesTop management teams (TMTs) in firms can fracture into subgroups based on demographic characteristics (e.g., age, gender, and education level) as well as based on task‐related characteristics (e.g., functional background,…
Read More about TMT Faultlines and Strategic Change: What Role Does Environmental Dynamism Play?This paper shows that corporate short-termism is hampering business success. We show clear, causal evidence that imposing long-term incentives on executives—in the form of long-term executive compensation—improves business performance. Long-term…
Read More about Flammer & Bansal, Does a Long-Term Orientation Create Value?Despite criticism from stakeholders, the public, media, and policy makers, many firms do not take serious action against CEOs who have committed financial misconduct. Past studies have suggested that this…
Read More about Political ideology of board and CEO dismissal following financial misconductWe articulate how CEOs posses-sing certain psychological, behavioral, and social charac-teristics may unknowingly precipitate competitive attackson their firms. Our explanation integrates insights fromvictimology which explain how individuals are subject tomore…
Read More about Hill, Recendes, AnridgeWe study how the optimal configuration of the overall pay system differs between firms that pursue growth‐oriented and efficiency‐oriented strategies. Our results show that growth‐oriented firms (prospectors) benefit from pay…
Read More about Right on the Money?