Title

Getting Them To Think Outside The Circle: Corporate Governance, Ceos' External Advice Networks, And Firm Performance

Abstract

This article contributes to the social networks literature by examining how corporate governance factors influence CEOs' external advice-seeking behaviors. We incorporate insights from social networks research into an agency theory perspective to predict, and demonstrate empirically, that governance factors recommended by agency theory increase CEOs' tendencies to seek out advice contacts who are likely to offer perspectives on strategic issues that differ from their own; these advice-seeking behaviors ultimately enhance firm performance. Accordingly, this article also contributes to the corporate governance literature by describing how and why CEOs' advice networks mediate the effects of governance factors on firm performance. Copyright of the Academy of Management, all rights reserved.

Publication Date

1-1-2008

Publication Title

Academy of Management Journal

Volume

51

Issue

3

Number of Pages

453-475

Document Type

Article

Personal Identifier

scopus

DOI Link

https://doi.org/10.5465/AMJ.2008.32625969

Socpus ID

47649121545 (Scopus)

Source API URL

https://api.elsevier.com/content/abstract/scopus_id/47649121545

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