We propose a behavioral theory of corporate governance based on an ontological foundation of socially situated and socially constituted agency. More specifically, we advance a multi-level, mechanisms-based, theory of governance that is socially informed yet actor-centric, and thus offers a...

This study advances a social constructionist view of financial market behavior. The paper suggests that the market's reaction to particular corporate practices, such as stock repurchase plans, are not, as financial economists contend, simply a function of the inherent efficiency of such...