The Moderating Effects from Corporate Governance Characteristics on the Relationship Between Available Slack and Community-Based Firm Performance
Recent perspectives on community investments suggest that they are opportunities for firms to create value for shareholders and other stakeholders. However, many corporate managers are still influenced by a widely held belief that such investments erode profits and are therefore unjustifiable from a...
| Autores principales: | ; |
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| Tipo de documento: | Electrónico Artículo |
| Lenguaje: | Inglés |
| Verificar disponibilidad: | HBZ Gateway |
| Interlibrary Loan: | Interlibrary Loan for the Fachinformationsdienste (Specialized Information Services in Germany) |
| Publicado: |
2012
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| En: |
Journal of business ethics
Año: 2012, Volumen: 107, Número: 4, Páginas: 409-422 |
| Otras palabras clave: | B
Agency Theory
B Stakeholder Theory B Gobierno corporativo B Organizational slack B Community-based performance |
| Acceso en línea: |
Volltext (JSTOR) Volltext (lizenzpflichtig) |
| Sumario: | Recent perspectives on community investments suggest that they are opportunities for firms to create value for shareholders and other stakeholders. However, many corporate managers are still influenced by a widely held belief that such investments erode profits and are therefore unjustifiable from an agency perspective. In this paper, we refine and test theory regarding countervailing forces that influence community-based firm performance. We hypothesize that high levels of available slack will be associated with higher community-based performance, but that this relationship will be moderated by three important governance variables: board independence, investment fund ownership, and CEO ownership. We find support for our hypotheses in longitudinal study of a large sample of U.S. corporations. |
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| ISSN: | 1573-0697 |
| Obras secundarias: | Enthalten in: Journal of business ethics
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| Persistent identifiers: | DOI: 10.1007/s10551-011-1046-z |
