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- catalog abstract "The study explores how power relationships between large-block shareholders and professional managers affect performance in public corporations. Certain types of shareholders with large ownership stakes are hypothesized to have formal authority, social influence and expertise that enables them to control public corporations, resulting in superior corporate performance. This idea is tested in a study of the U.S. textile industry from 1983-1992, an industry characterized by "transparent" economic conditions and strong social relationships between owners and managers, observed during a highly turbulent time period. Pooled, cross-sectional time series models indicate that controlling for ownership concentration, public corporations with outside-director owners, sustained owners and family owners each enjoy increased firm performance relative to industry competitors. These results suggest that large-block owners are not homogenous and that certain types of owners have a disproportionately large amount of influence in corporate governance. This paper proposes a parsimonious theory of national institutional factors that promote or inhibit the organizational constraints facing incumbent firms in the US and Japan.".
- catalog contributor b10898137.
- catalog contributor b10898138.
- catalog created "c1998.".
- catalog date "1998".
- catalog date "c1998.".
- catalog dateCopyrighted "c1998.".
- catalog description "Includes bibliographical references (p. 39-45).".
- catalog description "The study explores how power relationships between large-block shareholders and professional managers affect performance in public corporations. Certain types of shareholders with large ownership stakes are hypothesized to have formal authority, social influence and expertise that enables them to control public corporations, resulting in superior corporate performance. This idea is tested in a study of the U.S. textile industry from 1983-1992, an industry characterized by "transparent" economic conditions and strong social relationships between owners and managers, observed during a highly turbulent time period. Pooled, cross-sectional time series models indicate that controlling for ownership concentration, public corporations with outside-director owners, sustained owners and family owners each enjoy increased firm performance relative to industry competitors. These results suggest that large-block owners are not homogenous and that certain types of owners have a disproportionately large amount of influence in corporate governance. This paper proposes a parsimonious theory of national institutional factors that promote or inhibit the organizational constraints facing incumbent firms in the US and Japan.".
- catalog extent "48 p. ;".
- catalog isPartOf "Working paper (Harvard University. Graduate School of Business Administration. Division of Research) ; 98-110.".
- catalog isPartOf "Working paper / Division of Research, Harvard Business School ; 98-110".
- catalog issued "1998".
- catalog issued "c1998.".
- catalog language "eng".
- catalog publisher "[Boston] : Division of Research, Harvard Business School,".
- catalog title "The differing impact of technological change upon incumbent firms : a comparative theory of organizational constraints and national institutional factors / Henry W. Chesbrough.".
- catalog type "text".