We examine the operating performance of Thai firms after they go public. Overall, we find that their performance declines. We then explore the relationship between managerial ownership and the change in firm performance. We find that firms with ‘low’ and ‘high’ levels of managerial ownership experience positive relationships between managerial ownership and the change in performance (alignment-...

Purpose The purpose of this paper is to provide an overview of the issues involved in managerial control and managerial identity in relation to the idea of a post-bureaucratic organization. In addition it introduces the papers in this special issue. Design/methodology/approach The paper identifies the increasing complexity of issues of managerial control and managerial identity that arise from ...

This paper provides direct evidence that managerial style is a key determinant of the firm’s cost of capital, in the context of private debt contracting. Applying the novel empirical method by Abowd, Karmarz, and Margolis (1999) to a large sample that tracks job movement of top managers, we find that managerial style is a critical factor that explains a large part of the variation in loan contr...

We present a formal model of how the size of a firm’s administrative staff depends on the environment in which it operates. We consider a monopolist that introduces a new product in the face of market uncertainty. In a model that incorporates an informationprocessing view of the managerial hierarchies into a product choice problem, we relate optimal size of organizations to the speed of change ...