RRBM Honor Roll
The RRBM Honor Roll publications have been selected as examples of research that is both rigorous and relevant. The listing below offers credible insights for society.
These publications have been selected for the RRBM Honor Roll by the Selection Board with the exception of 2019 articles selected by a pre-test review panel.
|Nature of the publication||Journal article|
|Title of the publication||From a shareholder to stakeholder orientation: Evidence from the analyses of CEO dismissal in large US firms|
|Journal name/Book publisher||Strategic Management Journal|
The post-Enron era is marked with growing discourse of stakeholders, sustainability, and corporate social responsibility (CSR). Yet, commentators debate whether U.S. corporations have indeed moved toward a stakeholder orientation, given the difficulties in measuring such a shift. We assess this shift by examining corporate governance practices, especially the prevalence of shareholder- and stakeholder-oriented practices in chief executive officer (CEO) dismissals. Using data on large firms in 1980–2015, we found that, before the 2000s, CEOs were less heavily penalized for poor firm performance when they demonstrated a shareholder orientation by downsizing and refocusing the corporation and more heavily penalized for CSR activity. This trend, however, reversed after the early 2000s. This article provides evidence of the evolution of U.S. firms' governance practices from a shareholder toward stakeholder orientation.
|Author #1||Shoonchul Shin|
|Affiliation Author #1||Aalborg University Business School|
|Author #2||Juyoung Lee|
|Affiliation Author #2||Faculty of Business, Hong Kong Polytechnic University|
|Author #3||Pratima(Tima) Bansal|
|Affiliation Author #3||Ivey Business School, Western University|