Paper Type - Research Paper.Purpose - With boards of directors playing both monitoring and guidance roles, we examine the impact of board structure on firm value in large US and UK firms using the lenses of agency and resource dependence theories. Design/Methodology/Approach - Using a sample of...

Ownership has been identified as a key mechanism in corporate governance. Agency theory suggests that high levels of ownership provide increased incentive for shareholders to monitor firm management which should lead to better firm performance. However, not every shareholder may have the same...

This paper investigates the different effects of political connections on the firm performance of state-owned enterprises (SOEs) and privately owned enterprises. Using data on Chinese listed firms from 1999 to 2007, we find that private firms with politically connected managers outperform those...