Institutional and strategic choice perspectives on board involvement in the strategic decision process
Article Abstract:
The level of a board of directors' involvement in strategic decisions can be viewed as an institutional response or as a strategic adaptation to external pressures for greater board involvement. We examined the antecedents and effects of board involvement from both the institutional and strategic choice perspectives. Data obtained from personal interviews with 114 board members and archival records indicated that board size and levels of diversification and insider representation were negatively related to board involvement, and organizational age was positively related to it. Furthermore, we found board involvement to be positively related to financial performance after controlling for industry and size effects. Overall, the results suggest that both theoretical perspectives are necessary for a comprehensive description of the strategic role of boards. (Reprinted by permission of the publisher.)
Publication Name: Academy of Management Journal
Subject: Business, general
ISSN: 0001-4273
Year: 1992
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An empirical evaluation of the potential for including shareholders in corporate constituency programs
Article Abstract:
The attitudes of 2,151 shareholders from six large corporations are studied to examine the feasibility and effects of including shareholders in corporate constituency programs. It is shown that shareholders, who most often support corporate political activity and wish to be involved in these activities are a resource available to the companies that can be used to influence their external political environments. It is also shown that constituency building activities have a positive impact on the attitudes of shareholders.
Publication Name: Academy of Management Journal
Subject: Business, general
ISSN: 0001-4273
Year: 1985
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Effects of board and ownership structure on corporate R&D strategy
Article Abstract:
This study examined the extent to which the percentage of outside directors on a corporation's board of directors, the concentration of equity ownership, and the roles of individual and institutional stockholders influence on the company's R&D strategy. We found that high insider representation on a board and a concentration of equity among institutional investors positively affected corporate R&D spending. (Reprinted by permission of the publisher.)
Publication Name: Academy of Management Journal
Subject: Business, general
ISSN: 0001-4273
Year: 1991
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