search query: @indexterm Diffusion / total: 191
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| Author: | Westphal, J. D. Zajac, E. J. |
| Title: | Defections from the inner circle: Social exchange, reciprocity, and the diffusion of board independence in U.S. corporations |
| Journal: | Administrative Science Quarterly
1997 : MAR, VOL. 42:1, p. 161-183 |
| Index terms: | MANAGEMENT COMPANY CONTROL COMPANIES DIFFUSION BOARD OF DIRECTORS |
| Language: | eng |
| Abstract: | This paper brings together the recent evidence of greater board activism and control over top management with traditional views of the corporate board as an instrument of elite cohesion. The argument that the CEO-directors may experience a reversal in the basis for generalized social exchange with other top managers from one of deference and support to one of independence and control, is developed and tested. It is shown, how CEO-directors defect from the network of mutually supportive corporate leaders, how defections have diffused across organizations, and how this has contributed to increased board control as measured by board structure changes, diversification strategy and contingent compensation. Also evidence is provided, that a social exchange perspective can explain the diffusion of these changes well. |
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