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- W3123306656 endingPage "81" @default.
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- W3123306656 abstract "We propose that high‐quality corporate governance may mitigate agency costs related to value‐destroying investments in stakeholder management (SM). Using an unbalanced panel of 9,051 firm‐year observations for 1,631 firms, we find that deviations from expected stakeholder management (ESM) are increasing in chief executive officer (CEO) portfolio delta. We find, however, that deviations from ESM are negatively related to proxies for effective board monitoring. We also document that the effect of governance mechanisms varies by industry (consumer or industrial orientation) and SM dimension. The results indicate that corporations with good governance pursue shareholder value maximization while constraining unnecessary investment in stakeholders." @default.
- W3123306656 created "2021-02-01" @default.
- W3123306656 creator A5009426168 @default.
- W3123306656 creator A5034272890 @default.
- W3123306656 creator A5035442251 @default.
- W3123306656 creator A5066946669 @default.
- W3123306656 date "2011-03-01" @default.
- W3123306656 modified "2023-10-16" @default.
- W3123306656 title "Deviations from Expected Stakeholder Management, Firm Value, and Corporate Governance" @default.
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