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| Author: | Zahra, S. A. |
| Title: | Governance, ownership, and corporate entrepreneurship: The moderating impact of industry technological opportunities |
| Journal: | Academy of Management Journal
1996 : DEC, VOL. 39:6, p. 1713-1735 |
| Index terms: | ENTREPRENEURSHIP COMPANIES USA INDUSTRIAL ORGANIZATION CORPORATE RESTRUCTURING |
| Language: | eng |
| Abstract: | This study examines the association of a company's governance and ownership systems with it's level of corporates entrepreneurship defined as consisting of innovation aimed at business reaction and venturing, and strategic renewal. The study argues that the association of ownership and governance with corporate entrepreneurship is moderated by the level of technological opportunities that exist in the firm's major industry. Executive stock ownership and long-term institutional ownership are positively associated with entrepreneurship. Short-term institutional ownership is negatively associated with it, as is a high ratio of outside directors of company board. Outsiders might lead companies away from internal product development. |
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