The notion that evolution is blind has somewhat hindered the integration of strategic choice to explanations of firm evolution. However, this article argues that it is mainly the Darwinian notion of survival selection that has difficulties in accommodating strategic choice. In contrast, another...

The literature remains ambiguous on the impact of corporate-specific executive training programs on organizational performance. Instead of considering economic and learning performance, we study executive training programs as platforms that political coalitions can use to promote or block...

Stock brokers are entrepreneurs who incur switching costs when the change brokerage houses. We use Helsinki Stock Exchange data to investigate these costs by examining whether investors are loyal to their brokers when brokers move. We find that investors who have extant relationships with the...

Unique proprietary data on Swedish board members reveal that a non-trivial proportion of board members in Swedish listed firms have been convicted of serious crimes. Analyzing the data shows that board members with personal fraudulent behavior are more likely to be males than females. We also...

Today’s business world calls for leaders, and the auditing profession is no exception. Informed by emerging research on individual auditors, we investigate whether and how leadership ability, an attribute the auditing profession strongly emphasizes, is rewarded by the audit labor market. Using...

An analysis of a unique proprietary dataset reveals that non-trivial proportions of directors, CEOs and CFOs in Swedish listed companies have been convicted of crimes. Based on prior literature, we argue that directors and senior executives with prior criminal convictions are more prone to take...

In this paper, we investigate the effectiveness of two main corporate governance mechanisms, namely the board of directors and auditing, in mitigating the equity discounts arising from the potential entrenchment problem between inside and outside shareholders. Overall, the empirical results...