TITLE

What Does More Executive Discretion Mean for Corporate Governance?

AUTHOR(S)
Rehbein, Kathleen
PUB. DATE
May 2009
SOURCE
Academy of Management Perspectives;May2009, Vol. 23 Issue 2, p101
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article reports on a study of 371 U.S. firms which focused on executive discretion, corporate governance, and organizational structure. Researcher Aiyesha Day of the University of Chicago examined the development and efficiency of corporate-governance mechanisms that result from agency conflicts of self-interest, especially when there is a separation of ownership and management control. The research methodology includes an examination of the interrelationships of 22 different variables in corporate governance such as executive compensation and auditor committees. The probability of agency conflict in leveraged corporations that have high levels of free cash flows is mentioned.
ACCESSION #
39985547

 

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