Analyzing data from approximately 1.5 million employees across 1,108 established public and private US companies, we find that employee beliefs about their firm's purpose is weaker in public companies. This difference is most pronounced within the salaried middle and hourly ranks, rather than...

A poor ethical culture has been considered one of the reasons for the emergence of many corporate governance scandals. In this paper, I investigate the link between two corporate governance mechanisms – the composition of the board of directors and ownership structure – and ethical culture...

In response to corporate governance concerns, SEC disclosure rules, and encouragement by Institutional Shareholder Services, most large U.S. public firms have adopted executive stock ownership requirements in recent years. Compared to CEOs already in compliance, CEOs who have not yet fulfilled...

This study documents that firms with active corporate owners compensate their employees less than their peers. We analyze over 20 million employee records from 897 US firms and calculate pay differentials for employees in comparable positions across firms. The analysis yields three main...

We argue that the corporate governance of emerging economy IPO firms is influenced by firm-specific institutionally embedded block ownership groups. Applying an extended institutional logic perspective and using a mixed-effects ordered probit model, our findings from 190 IPO-firms from 22...

We investigate the relation between takeover performance and board share ownership in the acquiring company for a sample of 363 UK takeovers completed in the period 1985-96. In investigating this relationship we pay particular attention to the composition of board shareholdings as well as their...