This paper investigates the role of management earnings forecasts in mitigating information asymmetry between investors and managers relating to moral hazard, and explains how earnings guidance can facilitate monitoring. I demonstrate that firms that are more susceptible to moral hazard problems and more difficult to monitor are also more likely to issue annual earnings forecasts and they do so...

Indonesian higher education has experienced significant changes over the last decade. In 1999, the government published an overall strategy for decentralisation and enhancement of local autonomy in many sectors, including (higher) education. Indonesian higher education reforms have forced universities to restructure their internal university governance to become more entrepreneurial. These new ...

Separation between CEO and Chairman of the Board is typically viewed as evidence of good corporate governance. Surprisingly, the literature has failed so far to uncover any significant relation between CEO/Chairman duality and firm performance. By distinguishing between periods with and without CEO turnover, we empirically identify two offsetting effects: the correlation between duality and per...

This article proposes a conceptual framework to examine the development of the teacher education system in contemporary China. Within the framework, three development periods, including the era of shifan, and the era of post-shifan, the era of professional teacher education, are investigated in terms of governance, institutional structures, and resource allocation. With the central government d...

We are grateful to Christine Beckman. Gerald Davis, Monica Higgins. Muir MacPherson, and Edward Zajac for providing insightful comments on earlier drafts of this paper. We also thank Donald Palmer and the anonymous ASQ reviewers for their constructive feedback and valuable suggestions on the paper, and we thank Piruze Sabuncu for her assistance in data collection. In this study, we consider the...

The resource-based view argues that acquisitions can build competitive advantage partially through retention of valuable human capital of the target firm. However, making commitments to retain and motivate successful top managers is a challenge when contracts are not enforceable. Investigating the conditions under which target CEOs are retained in a sample of mergers in the 1990s, we find great...

The authors extend transaction cost analysis into a governance value analysis (GVA) framework to address marketing strategy decisions, especially with regard to strategies grounded in cooperative relationships. The GVA is a four-part model. Heterogeneous resources, positioning, the consequent attributes of exchange, and governance form all interact to determine success in creating and claiming ...

BACKGROUND The need of improving the governance of healthcare services has brought health professionals into management positions. However, both the processes and outcomes of this policy change highlight differences among the European countries. This article provides in-depth evidence that neither quantitative data nor cross-country comparisons have been able to provide regarding the influence ...