The Drivers of Managerial Practices: Firm and Country Characteristics Explaining Managerial Performance

On explaining performance differentials Marketing and the managerial theory of the firm

Efforts to develop a managerially meaningful alternative to the neoclassical theory of the firm have always been an important part of theory development in marketing. This paper argues that the main explanandum of a managerial theory of the firm is performance differentials between firms. Marketing shares an interest in explaining performance differentials with strategic management and organiza...

Managerial Control inside the Firm

This paper proposes an implicit control mechanism of managers inside the firm. We argue that the need to motivate workers may make it beneficial for a self-interested, short-sighted manager to pursue long-run viability of the firm. When the firm is in a stable environment, this implicit control mechanism may not contradict shareholder value maximization. However, when the firm needs restructuri...

Managerial Style and Firm Value

This study analyzes the effect of managerial style on firm value by partitioning general and administrative (G&A) expenses in the REIT industry into a nondiscretionary “structural” component associated with the costs of asset and liability management and a discretionary or “style” component. The discretionary component is significantly related to at least one measure of stylespecifically, the p...

Firm Performance, Entrenchment and Managerial Succession in Family Firms

This paper investigates whether the family status of a company’s top officer affects managerial replacement decisions in UK firms. We report evidence that family firms are characterized by higher levels of board control and weak internal governance in the form of independent company board structures. Consistent with a managerial entrenchment hypothesis, we find evidence that family CEOs are les...

Managerial Overconfidence , Agency Problems , Financing Decisions and Firm Performance