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Journal ArticleDOI

Ceo and director turnover in failing firms: an illusion of change?

TLDR
This study assesses both the incidence and form of governance changes in the 5‐year period prior to corporate bankruptcy, finding changes by firms at imminent risk of failure do not conform with the prescriptions favored by reform advocates and institutional investors.
Abstract
Firms facing imminent bankruptcy would seemingly be under some pressure to demonstrate effective governance structures as a means for maintaining the support of important external constituents and initiating a turnaround. Little is known, however, about CEO and director turnover and its impact on the composition and structure of the board in failing firms. This study assesses both the incidence and form of governance changes in the 5-year period prior to corporate bankruptcy. Despite extensive board member and CEO replacements, changes by firms at imminent risk of failure do not conform with the prescriptions favored by reform advocates and institutional investors.

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Book

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Journal ArticleDOI

Meta-analytic reviews of board composition, leadership structure, and financial performance

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Collaboration in the Boardroom: Behavioral and Performance Consequences of CEO-Board Social Ties

TL;DR: In this article, the authors show how and when a lack of social independence can increase board involvement and firm performance by raising the frequency of advice and counsel interactions between CEOs and outside directors.
References
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Journal ArticleDOI

Outside directors and CEO turnover

TL;DR: This article examined the relation between the monitoring of CEOs by inside and outside directors and CEO resignations using stock returns and earnings changes as measures of prior performance, and found that there is a stronger association between prior performance and the probability of a resignation.
Book

On the Measurement of Business Performance in Strategy Research: A Comparison of Approaches

TL;DR: A two-dimensional classificatory scheme highlighting ten different approaches to the measurement of business performance in strategy research is developed in this article, where the first dimension concerns the use of financial versus broader operational criteria, while the second dimension focuses on two alternate data sources (primary versus secondary).
Journal ArticleDOI

Threat-rigidity effects in organizational behavior: A multilevel analysis.

TL;DR: In this article, the authors explore the case for a general threat-rigidity effect in individual, group, and organizational behavior, showing a restriction in information processing and constriction of control under threat conditions.
Journal ArticleDOI

Corporate Social Responsibility and Financial Performance

TL;DR: In this paper, the relationship between corporate social responsibility and financial performance is reexamined using a new methodology, improved technique, and industry-specific control groups, and the average age of corporate assets is found to be highly correlated with social responsibility ranking.
Book

Pawns or Potentates: The Reality of America's Corporate Boards

Jay W. Lorsch, +1 more
TL;DR: Lorsch as mentioned in this paper argues that many boards of directors now lack the power and sense of common purpose to effectively fulfill their roles as overseers of the companies they serve, and proposes controversial solutions to begin to rectify the inbalance of power.
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