THE EFFECT OF BOARD CAPITAL AND CEO POWER ON STRATEGIC CHANGE

被引：681

作者：

Haynes, Katalin Takacs ^{[1
]}

Hillman, Amy ^{[2
]}

机构：

[1] Texas A&M Univ, Dept Management, Mays Sch Business, College Stn, TX 77843 USA

[2] Arizona State Univ, Dept Management, WP Carey Sch Business, Tempe, AZ USA

来源：

STRATEGIC MANAGEMENT JOURNAL | 2010年 / 31卷 / 11期

关键词：

boards of directors; board composition; human capital; social capital; power; strategic change; TOP MANAGEMENT TEAMS; FINANCIAL PERFORMANCE; FIRM PERFORMANCE; MODERATING ROLE; DIRECTORS; DIVERSITY; INVOLVEMENT; PERSISTENCE; ENVIRONMENT; CHOICE;

D O I：

10.1002/smj.859

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We develop the construct of board capitol, composed of the breadth and depth of directors' human and social capital, and explore how board capital affects strategic change. Building upon resource dependence theory, we submit that board capital breadth leads to more strategic change, while board capital depth leads to less. We also recognize CEO power as a moderator of these relationships. Our hypotheses are tested using a random sample of firms on the S&P 500. We find support for the effect of board capital on strategic change, and partial support for the moderating effect of CEO power. Copyright (C) 2010 John Wiley & Sons, Ltd.

引用

页码：1145 / 1163

页数：19

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