This Element is an attempt to contribute to the extant literature on boards and corporate governance by exploring in detail the active involvement of the board in the purpose and strategy of the corporation in order to cope with a complex and uncertain environment.

During the last ten years, Estonia has made strong efforts in terms of the transition to a market economy. This is particularly true with respect to the soundness and transparency of monetary and fiscal policies, the privatisation of former state-owned enterprises, the development of the...

Purpose: The purpose of this paper is to examine how firm growth, and its decomposition into acquisitive and organic growth, can serve as an antecedent to the disparity in pay between the CEO and other top management team (TMT) members. Design/methodology/approach: Drawing on tournament theory,...