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| Author: | Crossland, C. Hambrick, D.C. |
| Title: | Differences in managerial discretion across countries: how nation-level institutions affect the degree to which CEOs matter |
| Journal: | Strategic Management Journal
2011 : AUG, VOL. 32:8, p. 797-819 |
| Index terms: | management executives Asia Australia Canada Europe USA |
| Language: | eng |
| Abstract: | This paper operationalizes and develops further the construct of managerial discretion (hereafter as: mgr-dscn.) at the national level. Based on an empirical examination of 15 countries, it is found that certain informal and formal national institutions: individualism,..., dispersed firm ownership, a common-law legal origin, and employer flexibility are linked with the degree of mgr-dscn. available to public firm chief executive officers (CEOs). In turn, country-level mgr-dscn. is found to be associated with how much impact CEOs have on the performance of their firms. In addition, discretion is found to mediate the relationship btw. national institutions and CEO effects on firm performance. |
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