Journal ArticleDOI
Chief Executive Officers, Top Management Teams, and Boards of Directors: Congruent or Countervailing Forces?
TLDR
In this paper, the authors provide a rationale whereby a firm might elect a CEO or board dominance structure as compared to more balanced governance structures, and suggest that the efficacy of such choices may depend on several attendant conditions including the portfolio exposure and globalization of the firm, its ownership patterns (e.g., five percent owners, institutional investors, positions held by other corporations).About:
This article is published in Journal of Management.The article was published on 1996-04-01. It has received 243 citations till now. The article focuses on the topics: Corporate governance & Resource dependence theory.read more
Citations
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Journal ArticleDOI
Boards of Directors and Firm Performance: Integrating Agency and Resource Dependence Perspectives
Amy J. Hillman,Thomas Dalziel +1 more
TL;DR: The authors argue that board capital affects both board monitoring and the provision of resources and that board incentives moderate these relationships, arguing that board's incentives moderate the relationship between monitoring and resource dependence.
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Resource Dependence Theory: A Review:
TL;DR: In this article, the authors assess the conceptual development, empirical research, and application of resource dependence theory (RDT) and structure their review around the five options that Pfeffer and Salancik propose firms can enact to minimize environmental dependences: (a) mergers/vertical integration, (b) joint ventures and other interorganizational relationships, (c) boards of directors, (d) political action, and (e) executive succession.
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Cognition and corporate governance: Understanding boards of directors as strategic decision making groups
TL;DR: In this article, the authors developed a model of board processes by integrating the literature on boards of directors with group dynamics and workgroup effectiveness, and the resulting model illuminates the complexity of board dynamics and paves the way for future empirical research that expands and refines our understanding of what makes boards effective.
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Control and Collaboration: Paradoxes of Governance
TL;DR: In this article, the authors use agency and stewardship theories to elaborate the underlying tensions and emphasize the value of monitoring, as well as empowerment in corporate governance, and conclude by discussing means of managing control and collaboration, highlighting the implications for corporate governance.
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Internationalization and Firm Governance: The Roles of CEO Compensation, Top Team Composition, and Board Structure
TL;DR: Using the complementary lenses of information processing and agency theories, the authors test the proposition that the complexity resulting from a firm's degree of internationalization will be accomodated by the complexity of the firm itself.
References
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Journal ArticleDOI
Separation of ownership and control
Eugene F. Fama,Michael C. Jensen +1 more
TL;DR: The authors argue that the separation of decision and risk-bearing functions observed in large corporations is common to other organizations such as large professional partnerships, financial mutuals, and nonprofits. But they do not consider the role of decision agents in these organizations.
Book
The External Control of Organizations: A Resource Dependence Perspective
TL;DR: The External Control of Organizations as discussed by the authors explores how external constraints affect organizations and provides insights for designing and managing organizations to mitigate these constraints, and it is the fact of the organization's dependence on the environment that makes the external constraint and control of organizational behavior both possible and almost inevitable.
Journal ArticleDOI
The External Control of Organizations: A Resource Dependence Perspective.
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Upper Echelons: The Organization as a Reflection of Its Top Managers
TL;DR: In this article, the authors synthesize these previously fragmented literatures around a more general "upper echelons perspective" and claim that organizational outcomes (strategic choices and performance levels) are partially predicted by managerial background characteristics.
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Agency Problems and the Theory of the Firm
TL;DR: In this article, the authors explain how the separation of security ownership and control, typical of large corporations, can be an efficient form of economic organization, and set aside the presumption that a corporation has owners in any meaningful sense.