haku: @author Zajac, E. / yhteensä: 6
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| Tekijä: | Westphal, J. Zajac, E. |
| Otsikko: | The symbolic management of stockholders: corporate governance reforms and shareholder reactions |
| Lehti: | Administrative Science Quarterly
1998 : MAR, VOL. 43:1, p. 127-153 |
| Asiasana: | MANAGEMENT SHAREHOLDERS GOVERNMENT |
| Kieli: | eng |
| Tiivistelmä: | This paper examines the consequences of symbolic action in corporate governance. Specifically, the authors examine (1) whether the stock market reacts favorably to specific governance mechanisms that convey the alignment of CEO and shareholder interests, such as the adoption of long-term incentive plans (LTIPs), even if such plans are not actually implemented, (2) whether providing agency-related explanations for LTIPs affects the stock market response, and (3) whether the symbolic adoption of LTIPs deters other governance reforms that would reduce CEO's control over their boards. |
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