There remains a good deal of uncertainty as to whether and under which governance conditions family firms, even large, publicly traded ones, are entrepreneurial. We shall argue that agency theory, behavioral agency perspectives, and the resource-based view all posit both positive and negative...

Family business succession is a complex and challenging process, in which family members often build on the support of trusted advisors who can be seen as the most relied external source of advice and knowledge that family businesses draw on. Based on an extensive literature review, this article...

Corporate governance has been implemented by several companies to strengthen accountability, reinforce trust and confidence in companies where ownership and management are separated. Concerns have however been raised regarding the cost of corporate governance compliance for smaller listed...

In this study, I examine the relationship between board composition and diversification strategy in Japanese electronic corporations. Many Japanese electronics companies have performed sluggishly and instituted major reforms in terms of governance and management. The strategic choice between...

In the last decade corporate control has been facing a major challenge enhanced by successive corporate scandals; moreover, the shape of relationship between financial decisions (capital structure) and ownership structure on the firm value has been the heart debate of academics and financial...

This paper examines the relationship between corporate governance and cartel formation, A firm’s participation in cartel depends upon the potential problems that may arise due to price fixing and the incentives provided to the management. The top levels of management such as the board of...

In this article, we propose to view the firm as a locus of socialization in which employees with heterogeneous work attitudes can be motivated and coordinated through adherence to a social ideal of effort. We develop an agency model in which employees have both a personal and a social ideal of...

The key contribution of this paper is an empirical examination of the financial growth life cycle model by combining a number of statistical tests. This approach is significantly different to that traditionally adopted in empirical investigations of SME financing, which is to examine the...

We systematically analyze how variations in board independence and ownership concentration and type affect corporate social performance (CSP). Drawing from the agency and stakeholder perspectives, we argue that recognizing differences in the distribution of costs and benefits to shareholders and...

In this paper, an agency model is proposed, which allows us not only to compare a unitary state with a federation but also to represent the various forms of federalism. The concept of subsidiarity is used to explain how responsibilities are assigned between the different institutional levels....