We compare top management compensation among prospector, defender, and analyzer strategic types, and the effects of … management group more than did analyzers. They were also bigger, their managers faced more employment risks, and they paid their … compensated their top management group more, providing evidence of a positive relationship between risk and return at the level of …

of the board is to direct the activities of the managers. However, professional management increasingly makes most … strategic decisions, pushing the board into a supervisory role. We present two groups of findings on changing board – management … relationships. We identify three corporate governance models: traditional model, management model, and corporation model, and we …