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What does more executive discretion mean for corporate governance?

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Corporate governance features basically evolve in ways that align managerial and shareholder interests. An alternative perspective is that the corporate sector has failed miserably in its attempts to develop governance mechanisms that effectively constrain managerial activities. Indeed, the passage of Sarhanes-Oxley suggests that policymakers believe that corporations need more guidance in designing effective corporate governance. A recent study by Aiyesha Dey (University of Chicago) investigates how corporate governance structures emerge and vary across firms. Interestingly, Dey found that corporations whose top managers have the most discretion also face the most stringent oversight by their board of directors and audit committees. This study provides important evidence that corporate governance mechanisms vary across firms due to the number of corporate agency conflicts. Dey's results strongly suggest that political solutions for corporate governance may be harmful because they will undermine the instinctive tendency of firms to efficiently address the agency conflicts they face..Printed journal

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Ketersediaan

Call Number	Location	Available
	PSB lt.dasar - Pascasarjana	1

Penerbit	Academy of Management.,
Edisi	-
Subjek	Corporate Culture Corporate governance Research
ISBN/ISSN	15589080
Klasifikasi	-
Deskripsi Fisik	-
Info Detail Spesifik	-
Other Version/Related	Tidak tersedia versi lain
Lampiran Berkas	Tidak Ada Data