The DOI matches its Crossref record; 92 of the 92 references it cites were found in a registry or an index.
Agency Theory Revisited: CEO Return and Shareholder Interest Alignment
Abstract
Agency theory suggests that managerial mischief may occur when the interests of owners and managers diverge and that a solution to this agency problem is alignment of owner and agent interests through agent compensation and equity ownership. We develop the theoretical concept of CEO return and measure and estimate financial alignment as the relationship between CEO and shareholder returns. Our results, based on this new conceptualization and corresponding measurement, suggest stronger alignment than reported in previous work. The magnitude of this alignment is associated with subsequent firm performance, but in ways not clearly articulated or tested in prior research.
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Cites
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Cited by
Human Capital Is Dead; Long Live Human Capital Resources!
Ployhart, R. E., Nyberg, A. J., Reilly, G., & Maltarich, M. A. (2014) · Journal of Management · doi:10.1177/0149206313512152 · Cited by 560
Self-citationPublishing in AMJ—Part 2: Research Design
Bono, J. E., & McNamara, G. (2011) · Academy of Management Journal · doi:10.5465/amj.2011.64869103 · Cited by 310
Appuhami, R., & Bhuyan, M. (2015) · Managerial Auditing Journal · doi:10.1108/maj-04-2014-1022 · Cited by 100
Metadata
- Authors
- Nyberg, A. J., Fulmer, I. S., Gerhart, B., & Carpenter, M. A.
- Venue
- Academy of Management Journal
- Publisher
- Academy of Management
- Published
- 2010-10
- Volume
- 53
- Issue
- 5
- Pages
- 1029-1049
- ISSN
- 0001-4273 (ISSN-L)
- 1948-0989
- OpenAlex
- W3121665884
- Cited by
- 298
- References
- 92
- FWCI
- 31.51
- Type
- journal article
- Language
- en
- Open access
- closed
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