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This research studies sales force incentive compensation in brand-managed retail (BMR) operations, which are particularly prevalent in high-end department stores and vertically integrated retailers. In particular, the research explores how a brand's strength may affect the relative benefit to a brand from using individual versus group incentives for motivating its salespeople in BMR settings. The authors investigate this issue using a theoretical principal–agent model consisting of a risk-neutral firm employing multiple risk-averse salespeople. Interestingly, they find that a group incentive is more beneficial to a weaker brand than to a stronger one. Furthermore, the authors find empirical support for their theoretical findings from an analysis of sales compensation data from BMR operations in two different settings. The research findings suggest that managers should factor in the brand's strength when deciding on the optimal salesperson compensation structure in BMR settings. [ABSTRACT FROM AUTHOR]

This study evaluates whether an association exists between the agency incentives of the audit committee chair and voluntary disclosure of their monitoring activities in their audit committee report. Prior research suggests that a shift toward greater voluntary disclosure in the audit committee report occurred following the passage of the Sarbanes–Oxley Act but does not directly address the determinants of voluntary disclosure. Consistent with agency theory, audit committee chairs signal their duty-specific monitoring activities to shareholders, possibly to protect their reputation and justify their compensation. Within a high-litigation industry, this study provides evidence that audit committee chairs with a greater reputation level (i.e., more public company directorships) provide more concise duty-specific voluntary disclosure when serving companies with high levels of agency conflicts. This provides evidence consistent with efficiency in the market for audit committee chairs. This study also provides evidence that audit committee chairs respond to likely shareholder concerns by providing more concise duty-specific voluntary disclosure when their company has previously restated its financials. Finally, audit committee chairs provide increased voluntary disclosure specifically related to external audit oversight when high agency conflicts exist. As a whole, this contributes to the existing audit committee literature by providing evidence that voluntary disclosure incentives for financial reporting are also important determinants of more qualitative compliance-based reporting in the proxy statement. This has implications for accounting and governance practitioners as voluntary audit committee report disclosure offers shareholders detailed information that they may use in evaluating audit committee monitoring performance. [ABSTRACT FROM AUTHOR]

We develop a stakeholder theory of corporate governance grounded in classical property rights theory, adopting the view that governance should help free individuals to maximize their collective welfare. In contrast to the agency view of corporate governance, we submit that the central problem in corporate governance is to devise coalitional contracting solutions to the collective action problems inherent in team production and team innovation. Agency problems and other contracting problems resulting from shirking, hold-up, market power, and externalities are best understood in this context. We develop design principles for the allocation of property rights to mitigate each of these contracting problems by reducing stakeholders' vulnerabilities to opportunistic behaviors. We extend earlier efforts to build a stakeholder theory of corporate governance by considering a more comprehensive set of transaction problems and analyzing the comparative efficiency of different governance arrangements for different types of firm–stakeholder relationships and different economic contexts. One conclusion from our theory is that giving primacy to shareholders, or any other group of stakeholders, is a comparatively inefficient solution to governing the modern global and knowledge-driven corporation. We discuss the implications of our theorizing for the debate about the purpose of the firm. [ABSTRACT FROM AUTHOR]

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"Woke" companies are those that are committed to socially progressive causes, with a particular focus on diversity, equity, and inclusion as these terms are understood through the lens of critical theory. There is little evidence of systematic support for woke ideas among executives and the population at large, and going woke does not appear to improve company performance. Why, then, are so many firms embracing woke policies and attitudes? We suggest that going woke is an emergent strategy that is largely shaped by middle managers rather than owners, top managers, or employees. We build on theories from agency theory, institutional theory, and intraorganizational ecology to argue that wokeness arises from middle managers and support personnel using their delegated responsibility and specialist status to engage in woke internal advocacy, which may increase their influence and job security. Broader social and cultural trends tend to reinforce this process. We discuss implications for organizational behavior and performance, including perceived corporate hypocrisy ("woke-washing"), the potential loss of creativity from restricting viewpoint diversity, and the need for companies to keep up with a constantly changing cultural landscape. [ABSTRACT FROM AUTHOR]

Purpose: Based on stakeholder, agency and institutional theory, this study aims to examine the role of institutional ownership in the relationship between environmental, social and governance practices and CEO compensation. Design/methodology/approach: Utilizing a fixed-effect panel regression analysis, this research utilized a panel data approach, analyzing data spanning from 2014 to 2021, focusing on US companies listed on the S&P500 stock market index. The dataset encompassed 219 companies, leading to a total of 1,533 observations. Findings: The analysis identified that environmental scores significantly impact CEO equity-linked compensation, unlike social and governance scores. Additionally, it was found that institutional ownership acts as a moderating factor in the relationship between the environmental score and CEO equity-linked compensation, as well as the association between the social score and CEO equity-linked compensation. Interestingly, the direction of these moderating effects varied between the two relationships, suggesting a nuanced role of institutional ownership. Originality/value: This research makes a unique contribution to the field of corporate governance by exploring the relatively understudied area of institutional ownership's influence on the ESG practices–CEO compensation nexus. [ABSTRACT FROM AUTHOR]

Recent immersive theatre practices being developed by UK theatre companies invite children to believe that a book story has come to life and is really happening to them within their school environment. The thrill of being able act within a story motivates children's embodied agency to physically explore an immersive set installation and acts of creative writing performed during the story experience, which allow children to co-create the narrative alongside the adult practitioners. These acts are fictionalised into the narrative frame of the children as heroic story writers, offering new perspectives on how child co-creation of adult narratives can be enabled intra-textually, within the bounds of the adult-initiated story, rather than extra-textually after it has finished, as is the case with fan fiction. However, it raises questions about the nature and limits of this co-creative agency the experiences purport to elicit from their child participants, especially in terms of their critical agency to manipulate fictional devices presented to them through such a hyper-real aesthetic. Drawing on theories of children's literature and participatory performance, this article argues that it is the way these immersive productions uncannily overlay real and fictional temporalities that enables the child participants' critical agency within them. Approaches for further participatory, practice-based research in this understudied corner of children's reading universes are suggested for harnessing the potential of immersive story worlds to generate research data from within children's first aesthetic engagement with stories. [ABSTRACT FROM AUTHOR]

Although understanding is the object of a growing literature in epistemology and the philosophy of science, only few studies have concerned understanding in mathematics. This essay offers an account of a fundamental form of mathematical understanding: proof understanding. The account builds on a simple idea, namely that understanding a proof amounts to rationally reconstructing its underlying plan. This characterization is fleshed out by specifying the relevant notion of plan and the associated process of rational reconstruction, building in part on Bratman's theory of planning agency. It is argued that the proposed account can explain a significant range of distinctive phenomena commonly associated with proof understanding by mathematicians and philosophers. It is further argued, on the basis of a case study, that the account can yield precise diagnostics of understanding failures and can suggest ways to overcome them. Reflecting on the approach developed here, the essay concludes with some remarks on how to shape a general methodology common to the study of mathematical and scientific understanding and focused on human agency. [ABSTRACT FROM AUTHOR]

Moral disengagement, a term coined by Bandura, explains how people can hurt others and behave immorally, contradicting their beliefs and values and yet live peaceably with themselves. He developed a conceptual model of moral disengagement based on the Social Cognitive Theory of moral agency. By activating moral disengagement mechanisms, people can disregard their moral standards and behave immorally without any self‐censure. This paper synthesises the extensive research on moral disengagement in a youth bullying context to demonstrate the conceptual strength of moral disengagement theory for research and interventions on bullying. It advances the understanding of the contextual basis of moral disengagement by examining its diverse role in bullying episodes that includes bullying perpetration, bullying victimisation and bullying bystanders. The analysis of the different components of moral disengagement representing the loci of the disengagement mechanisms sheds light on how the disengagement processes function in the youth bullying context. Its role as both a moderator and mediator further advances its divergent functioning in the youth bullying context. Finally, implications of the review for advancing knowledge on the moral basis of youth bullying are discussed with suggestions for the development of interventions to attenuate the use of moral disengagement. [ABSTRACT FROM AUTHOR]

The paper assesses the relation between firms' CO2 emissions as per the CDP (formerly known as Carbon Disclosure Project) platform and their environmental disclosure quality, as mediated by two monitoring mechanisms: media legitimacy (external) and firm governance (internal). Legitimacy theory as well as the monitoring dimension of agency theory underlie the empirical investigation. The sample comprises Canadian and U.S. firms, for which a governance disclosure score and media legitimacy information are available from Bloomberg. Relying on structural equations modelling, results are the following. First, CDP disclosing firms exhibit an environmental disclosure score that is twice as high as non-disclosing firms. Second, media legitimacy, expressed by the Janis-Fadner index, is significantly lower for CDP disclosing firms. This may explain why high CO2 emission firms are less inclined to disclose CDP emission data. Third, the direct effect of the decision to disclose CDP emissions of CO2 (full sample) on environmental disclosure quality is positive and significant. Consistent with our hypotheses, we observe an indirect (mediating) effect on this relationship of media legitimacy (external monitoring) and corporate governance (internal monitoring). This suggests that media legitimacy and corporate governance enhance the positive impact of the decision to disclose CDP emissions of CO2 on environmental disclosure quality. Fourth, the direct effect of CDP emissions of CO2 (reduced sample) and environmental disclosure quality is positive and significant. Also consistent with our hypotheses, we observe an indirect effect on this relationship from media legitimacy and corporate governance. [ABSTRACT FROM AUTHOR]

This paper investigates the ability of unions to tackle precarious work by analysing three illustrative case-studies from Denmark, Germany and the UK. It draws on the power resource theory to analyse how different dimensions of power interact with union strategies towards workers in precarious employment, shaping outcomes in both collective representation and labour market conditions. The analysis stresses how unions need multiple forms of power, with important interactions among and across different levels of power resources and important differences between countries, sectors and workplaces. The paper discusses these interactions with a specific focus on the need to develop new resources, in particular ideational resources that are inclusive to those in precarious work, and the interaction between power resources and union strategies as the availability or absence of resources affects the strategies that unions can develop. [ABSTRACT FROM AUTHOR]

The disclosure quality (DQ) of financial statements in Southeast Asian firms remains poorly understood, with its impact on performance yet to be empirically determined. Our study thus investigates the influence of DQ on corporate performance (CP) among listed firms, examining the moderating effects of managerial myopia (MM) and corporate governance (CG). Employing quantitative methods and data from Thomson Reuters DataStream, we analyze a ten-year dataset of firms listed on stock exchanges in six developing Southeast Asian nations during the period 2012– 2021 using the generalized method of moments (GMM) estimation. Our findings support a positive effect of DQ on CP, consistent with agency theory, while also highlighting the moderating roles of MM and CG. We advocate for constraints on MM and strengthened CG mechanisms to enhance the effect of DQ on CP. Our study contributes new insights rooted in agency theory, providing comprehensive explanations for the effects of MM and CG on the DQ-CP nexus. Investors can leverage these insights by utilizing DQ and CG as forecasting indicators for future CP. Furthermore, future research could broaden the scope by including additional developing nations to yield more comprehensive findings. [ABSTRACT FROM AUTHOR]

In this study I investigate aesthetics of agency in games in terms of rhythm. Following C. Thi Nguyen's theory of agency as the aesthetic medium of games, I suggest that the aesthetic experience of agency can be interpreted in terms of rhythm. First, I provide an overview of Nguyen's theory of games as the art of agency. By focusing on Nguyen's characterization of the aesthetic experience of agency, I highlight a need for a more detailed description of agential aesthetics. Second, I introduce a philosophical interpretation of rhythm as a distinction between form and flow. Finally, by using Elden Ring as an example I argue that an understanding rhythm as form in continuous motion captures the transient and mutable character of agency as the object of the player's aesthetic experience. Rhythm provides insight into the temporal nature of Nguyen's process aesthetics and explains how agency can have nonconceptual meaning. [ABSTRACT FROM AUTHOR]

The environmental vertical management reform (EVMR) below the provincial level in China is an important driving force for enterprise green innovation. This article employs a progressive double-difference method to test the green innovation performance of enterprises in pilot areas relative to non-pilot areas before and after the implementation of the reform, to analyse its impact on green innovation. The findings of the article indicate that: (1) EVMR can significantly promote enterprise green innovation. This conclusion still holds after controlling for endogeneity and conducting other robustness tests. (2) In terms of the mechanism, EVMR primarily promotes green innovation by improving the supervisory capacity of provincial-level environmental protection departments, the enforcement capacity of grassroots environmental protection departments, and the incentives and supervision for managers from shareholders in enterprises. (3) Heterogeneity results show that the EVMR has a more significant promoting effect on enterprise green innovation in regions with lower degree of marketization and less emphasis on the environment. [ABSTRACT FROM AUTHOR]

In the context of promoting the orderly expansion of capital investment and rational allocation of resources to achieve green and circular economic development. Green finance, as a new engine to promote the sustainability of enterprises, holds significant importance in exploring the positive effect of green finance policies on optimizing the investment decisions of enterprises and guiding them to efficiently utilize their resources to maximize value creation. Using A-share listed companies in Shanghai and Shenzhen from 2012 to 2022 as the research sample, we apply the Difference-in-Differences (DID) method to test the impact of the green finance reform and innovation pilot zones (2017) on the investment efficiency of enterprises in the pilot regions. We also adopt a two-step method to test the mechanisms of financial resource misallocation and agency costs. The study reveals that the green finance policy significantly enhances the investment efficiency of enterprises in the pilot areas. Financial resource misallocation and agency costs are important influence mechanisms. Drawing on resource allocation theory and agency theory, the study concludes that the green finance policy alleviates financial resource misallocation by directing financial resources toward high-efficiency enterprises. Moreover, the policy effectively reduces agency conflicts caused by power separation and information asymmetry, ensuring that enterprises can maximize the benefits of their investments. Heterogeneity analysis shows that non-state-owned enterprises and low-tech innovative enterprises in the pilot areas have disadvantages in terms of capital stock and loan credit, so the policy can improve their investment efficiency effectively. Based on these findings, we recommend that to leverage the positive effects of the green finance policy, it is essential to enhance the guiding role of the government, strengthen market mechanisms, and bolster corporate initiatives. This study complements the research on the economic effects of location-orientated comprehensive green finance policies on enterprises, considering the dual aspects of resource allocation efficiency and corporate governance, and makes up for the shortcomings of the existing literature. The study's conclusions offer valuable insights for enhancing green finance to support enterprises in achieving efficient production. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to examine the role of entrepreneurial passion, specifically venture obsession, in agentic relationships within entrepreneurial contexts. It aims to develop a new conceptualization of the role of the venture in these relationships and explore the negative impacts that can arise from the obsessive passion for the venture. The paper contributes to the literature by shedding light on the complexities of agency outside of large for-profit firms, unpacking components of self-interest in the agentic relationship and challenging the assumption that entrepreneurial passion is always beneficial for both the entrepreneur and the venture. Design/methodology/approach: This paper employs theoretical framework development and conceptual mapping to explore the role of entrepreneurial passion, specifically venture obsession, in agentic relationships within entrepreneurial contexts. We conducted a comprehensive literature review and synthesis of existing research on agency theory, entrepreneurial passion and venture obsession. By integrating these insights, we developed a new conceptual framework that theorizes the negative impacts of venture obsession on agentic relationships and venture performance. This approach allows us to propose a nuanced model that highlights the complexities and potential maladaptive behaviors associated with obsessive passion in entrepreneurship. Findings: Venture obsession can have detrimental outcomes, such as escalation of commitment and ignoring external feedback, due to the intense focus on protecting the venture at all costs. Originality/value: The study highlights the impact of venture obsession on agentic relationships, emphasizing the balance between autonomy, competence and relatedness that entrepreneurs strive to maintain for their well-being. While previous research has explored the role of entrepreneurial passion and its effects on venture performance, this study extends the understanding by delving into the darker side of passion when it transforms into obsessive agency. By emphasizing the importance of maintaining a healthy balance in agentic relationships and considering the psychological well-being of entrepreneurs, this study adds nuance and depth to the existing knowledge on the subject. [ABSTRACT FROM AUTHOR]

As a contested site of struggle, Black women rappers' use of hip-hop and rap music provides them with a platform to affirm their sexual autonomy amid gratuitous sexual violence. Sexual agency is central to Black abolition. To imagine futures beyond violence necessitates that we view Black women's sexual rebellion as an abolitionist praxis amidst precarity. In this essay, I introduce subversive reclamation—a critical reading posture and experimental approach—to explore the imaginative potential of Black pussy talk as a rhetorical strategy employed in Black women's contemporary stripper rap. I situate this exploration of Black women's pussy talk within and in conversation with Black queer feminist (BQF) theories of sex and sexuality as well as pleasure and joy to consider how Cardi B and Megan Thee Stallion's hip-hop song, "WAP" queers hegemonic inscriptions of Black women's sexualities. Ultimately, I argue that subversive reclamation offers a disruptive reading of Black women's pleasure, fundamentally shifting how rhetorical scholars should talk about Black women's bodies, sexualities, and futures in popular media and public discourse. [ABSTRACT FROM AUTHOR]

In this paper, we explore contemporary regional development in a historic industrial region. Specifically, we unpack the influences of industrial history and culture, built up over several centuries, on contemporary regional development dynamics and issues. In doing so, we draw on an evolutionary perspective within economic geography and perspectives from deindustrialization studies to understand how the past shapes the present. We combine these with theories of agency to understand how key actors comprehend the industrial heritage of a place, and how this is incorporated into contemporary regional development efforts. We explore this combination of conceptual lenses through an in-depth case study of Karlskoga, in Sweden, one of the country's 'bruksorter' (mill towns) that grew up around the production of iron and steel, leading to it eventually becoming one of the largest arms manufacturing cities in Europe, home of the well-known Bofors company. However, all has not been plain sailing, and Karlskoga has experienced the challenges of de-population, industrial restructuring, and shocks to the sector upon which the town is reliant. By analysing these mixed fortunes we develop new insights into how regional development is intertwined with structural, institutional, and cultural industrial legacies. [ABSTRACT FROM AUTHOR]

This paper examines the relationship between environmental violations and stock price crash risk, using the sample of Chinese A-shared listed firms and a comprehensive range of Chinese listed heavily polluting companies covering 2012 to 2021. We provide strong and robust evidence that environmental violations significantly increase future stock price crash risk for Chinese listed heavily polluting companies. Through the mechanism of internal control, our paper finds that environmental violations lead to the weakening of internal control, thereby exacerbating future stock price crash risk. We further find that the legal environment has a negatively moderating impact on the relationship. Additionally, heterogeneity analysis shows that the influence of environmental violations on stock price crash risk is more prominent when firms are smaller, have non-state ownership, and have a lower level of corporate governance and external monitoring. [ABSTRACT FROM AUTHOR]

This study examines the role of growth opportunities on stock buybacks and provides evidence on the importance of signaling and agency theories in explaining stock buybacks. Both theories are required to fully explain stock buybacks. As per the signaling theory, we find that the announcement period returns are positive for stock buybacks, which indicates that the buyback firms' stock is undervalued. Furthermore, consistent with agency theory, we also find that the announcement period returns are higher for firms with low growth opportunities and high free cash flow. We also examine buyback firms' long-run stock price performance for 12 months, 24 months, and 36 months following the buyback. We use the Fama–French five-factor model to study the long-run stock performance of buyback firms because of its better explanatory power than the three-factor model. Low growth-high free cash flow firms tend to outperform their benchmark portfolios during this period. Recent regulations such as the Stock Buyback Tax can discourage low growth firms from conducting stock buybacks, which could increase agency costs. [ABSTRACT FROM AUTHOR]

Manipulating real activities is generally regarded as more damaging to a firm's long-term growth and value than accrual-based manipulations. We consider this point of view and build on the agency theory framework for investigating the role of independent directors' (INDs') tenure and connection to several boards in controlling real-earnings management (REM) practices. We analyze a sample of UK listed non-financial companies over the period between 2005 and 2018. The potential endogeneity issue was controlled by the application of the two-step system-GMM estimations. The research findings suggest that REM was lower in those firms whose INDs were connected to several boards at a time. The findings also show that the association between INDs' tenure and REM varied with the phases of their tenure. Directors in the early stage of their tenure are less effective at controlling REM, however, as their tenure grew, they generate better oversight over the management conduct, thereby reducing REM. Contrary to this, extended tenure is shown as positively associated with higher REM practices. The overall findings thus suggest that the board monitoring role protects the stakes of the shareholders by constraining REM when INDs have better expertise and rich information acquired through their presence on multiple boards—and when they have moderate board tenure, which is neither too short nor too long. We argue that due to the importance of the role of INDs in the current global scenario this study has policy implications. [ABSTRACT FROM AUTHOR]

Purpose: The effects of board composition on performance have long been discussed in management research using fractionalization measures. In this study, we propose an alternative measurement approach based on board polarization. Design/methodology/approach: Using an exploratory analysis and applying the polarization measure to German Deutscher Aktienindex (DAX)-, Midcap-DAX (MDAX)- and Small Cap-Index (SDAX)-listed companies, this paper applies the polarization index to examine the relationship between board diversity and performance. Findings: The results show that the polarization concept is well suited to measure principal-agent problems between the members of the management and supervisory boards. We reveal that board polarization is negatively associated with firm performance, as measured by return on investment (ROI). Originality/value: This exploratory study shows that the measurement of board polarization can be linked to performance differences between companies, which offers promising starting points for further research. [ABSTRACT FROM AUTHOR]

Innovation is a key driver of firm success. To encourage innovation, firms often offer equity‐based compensation, such as stock options, to better align CEOs' personal interests with shareholder value. Drawing on agency theory, we argue that stock options may not always benefit a firm by encouraging innovation. Instead, we demonstrate that CEOs intending to exercise their stock options have the incentive to be myopic in R&D management so that they can temporarily boost the stock price and, thus, increase their personal wealth. Using a unique multi‐source dataset of 335 Standard & Poor 500 companies from 2007 to 2015, we find evidence supporting this argument. Moreover, the findings suggest that factors that can affect the perceived pressure to promote innovation by CEOs might reshape the association between stock option exercise and myopic R&D management. For example, power resulting from CEO duality decreases the perceived pressure to promote innovation, which increases the likelihood of CEOs engaging in myopic R&D management when exercising their stock options. However, when shareholders present a long investment horizon or when firms have high innovativeness, CEOs perceive more pressure to promote innovation and thus are less likely to opt for myopic R&D management while exercising stock options. The findings provide important insights for better understanding and controlling managerial myopia in innovation management. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to examine the influence of voluntary disclosure on bank value in Pakistan, considering the moderating effect of corporate governance characteristics: ownership control, board independence and board size. Design/methodology/approach: The study uses data from 20 listed Pakistani banks for the period 2011–2021. The estimation contains robust fixed effect and its assumptions, and a model of standard error with panel corrections. Findings: The findings revealed a weak positive impact of voluntary disclosure on bank value. However, the increase in the number of independent directors strengthens the positive impact of voluntary disclosure on a bank's value. Conversely, increasing the ownership concentration, and board size (other than independent directors) may strongly decrease the impact of voluntary disclosure on a bank's value in Pakistan. Research limitations/implications: The study's limitations include its exclusive focus on the Pakistani banking industry. Future research should take into account newer contexts and data. The findings suggest that future research should investigate the topic in various contexts, including a comparison of Islamic and conventional banks. Practical implications: The practical implications for Pakistani banks emphasize transparency, board composition and ownership structure. In terms of managerial implications, using independent directors, aligning ownership interests and addressing disclosure challenges are highlighted. Originality/value: Focusing on independent directors, ownership concentration and board size, this study enhances knowledge of the impact of voluntary disclosure on bank value in Pakistan. It contributes to agency theory and the literature in this domain. [ABSTRACT FROM AUTHOR]

Angel investing has been transformed over the past two decades into a collective endeavour as angels have increasingly organised themselves into professionally-managed angel groups. A key role of the manager, typically termed the gatekeeper, is to undertake the initial screening of investment opportunities that the group attracts. We examine this activity through the lens of collective action using principal-agent theory to understand whether the gatekeeper (agent) acts in the best interests of the members (principal). Our study examines the gatekeeper's approach to initial screening. Two different data gathering techniques were used to collect evidence from 21 gatekeepers representing 19 angel groups. First, verbal protocol analysis, which involved gatekeepers 'thinking out loud' as they undertook the initial screening of a potential funding opportunity, indicated that the majority did consider the shared interests of the members of the group, although in many cases this comprised only a small proportion of their overall comments. This could indicate the potential for moral hazard; however, the interview questions demonstrate that the gatekeepers focus on actions which increase the benefits for members. This requires that gatekeepers have a strong social relationship with group members to match their investment preferences with the types of investment opportunities that they 'screen in'. [ABSTRACT FROM AUTHOR]

The link between corporate social responsibility (CSR) and earnings management represents an attractive empirical research topic in recent years. In view of the heterogeneous research results, the purpose of this structured literature review is to analyze the contextual factors of this complex relationship. We selected 107 quantitative peer‐reviewed archival studies on that topic and explain a possible positive and negative link between CSR and earnings management by the moral licensing hypothesis (principal agent theory) and the moral track hypothesis (stakeholder theory). We focus on firm‐ and country‐related moderator effects as contextual factors. Country‐specific studies are separated in developed (Anglo‐American and Continental European settings) and developing countries (African and Asian settings), code and case law regimes as well as the degree of shareholder protection and legal enforcement. In line with stakeholder theory, we stress that most of the included studies found a negative impact of CSR on earnings management with a focus on CSR performance and accruals‐based earnings management. Other measures, for example, CSR reporting, sub‐pillars of CSR performance, and real earnings management, are inconclusive due to reduced research activity. We do not find any structural changes between developed and developing countries, case and code law regimes, and regarding the strength of shareholder protection and legal enforcement. However, there are clear indications that corporate and country governance strengthens (weakens) the negative (positive) influence of CSR on earnings management. We stress major limitations of prior research and formulate useful recommendations for future research. [ABSTRACT FROM AUTHOR]

Workplace incivility is experienced ubiquitously by immigrants. While a growing body of literature has sought to identify the causes and the outcomes of this phenomenon, what remains largely underexplored is the role of legal status in configuring how workplace incivility manifests in the immigrant experience. To advance the extant literature, in this article we investigate the question: How does legal status inform the ways in which immigrants exercise agency in response to workplace incivility? In addressing this question, we draw on the methodological resources provided by duoethnography and develop vignettes to make visible the dynamics with workplace incivility that we have individually encountered in the academic organizations in which we have been located—based in the UK and Canada. In juxtaposing the vignettes against one another, we are offered a glimpse into how legal status shapes the forms and the depth of agency available to immigrants to respond to incidents of workplace incivility. In light of our findings, we problematize the nexus between an immigrant's agency and workplace incivility as well as consider the implications this nexus has to ongoing debates in business ethics. [ABSTRACT FROM AUTHOR]

Research on racism in the workplace has long focused on organizational remedies for this moral problem. Given the acknowledged inadequacies of organizational solutions such as anti-racism training, attention is now turning to how immigrants manage their individual experiences of racism in a western context. Employing an agentic lens, this article describes a qualitative study of 43 African nurses in the UK in which their capacity for withstanding workplace racism is examined. It investigates how participants draw upon a range of religious coping strategies to make sense of and respond to racism. The data indicate that African nurses rely on specific coping strategies at different points in time and across various contexts, adapting their coping approaches to accommodate their personal growth and individual experiences. This underscores the versatility, context-dependency, and temporal aspects of religious coping among immigrants. The study's findings are particularly interesting given the limited role that religion plays in western organizations. [ABSTRACT FROM AUTHOR]

Reliance on agency-theoretic reasoning has led to substantial theoretical and empirical advances in company law scholarship, but the narrow focus on board-level actors and phenomena has disconnected the analysis of the company from the reality of the economic organisation it is meant to enable and support. We follow Oliver Williamson’s call for a ‘law, economics, and organization’ approach, and build on Elinor Ostrom’s ‘institutional analysis and development’ framework to propose a narrative model of the company in terms of nested levels of governance. We argue that our model works as a positive description of the law as it is, and puts us in a stronger position to evaluate the likely consequences of certain normative interventions, which we illustrate with some observations about ongoing debates in corporate governance. [ABSTRACT FROM AUTHOR]

The aim of this theoretically oriented article is to promote the educational role and purpose of academic development in higher education by suggesting a holistic framework and theoretical articulation for university pedagogy. By discussing links between university pedagogy, academic development, and broader views of university education, our framework clarifies the concept of university pedagogy in the Nordic countries. The framework encompasses four themes: (1) the relationship between educational theory and pedagogical practice; (2) the interplay between knowledge and the curriculum; (3) the university as an organization and social institution; and (4) the agency in and of academic communities. We argue that university pedagogy operating within this framework has the potential to strengthen the scholarly foundations of the development of university education. The framework can enhance critical public discourse on the purpose of university education. [ABSTRACT FROM AUTHOR]

A wide range of benefits are associated with children's positive transition to school. Applying a critical sociological lens in understanding transitions allows for cycles of sociocultural inequality to be challenged and disrupted. This is of particular importance for understanding transition experiences of children from socially demarcated groups, such as children from refugee backgrounds. This paper outlines how critical sociological theory can be used to identify settler‐colonial ideology and to unpack how children are understood and positioned within their broader sociocultural context, and how this understanding can lead to a strength‐based approach that recognises the rights, agency and voice of children and their families. [ABSTRACT FROM AUTHOR]

This study investigates the moderating role of emotional intelligence in the relationship between protean career attitude, objective career success, and subjective career success among faculty members in Saudi Arabia. Based on career human agency theory, it is proposed that high emotional intelligence enhances the relationship between protean career attitude and career success more effectively than low emotional intelligence. Data from 241 faculty members were analyzed using SmartPLS 4.0. Findings reveal that emotional intelligence significantly moderates the relationship between protean career attitude and subjective career success, while no such moderation effect is observed for objective career success. Given the unique socio-cultural and economic landscape of Saudi Arabia, these insights highlight the importance of emotional intelligence in Saudi academia, which is subjected to educational reforms and cultural shifts. The study offers guidance for academic career practitioners to develop strategies that help faculty members navigate contemporary career challenges, fostering a more resilient and adaptable academic workforce. [ABSTRACT FROM AUTHOR]

This article reviews anthropological explorations of conspiracy theories—in dialogue with insights from other disciplines, primarily political science, philosophy, and social psychology—to frame conspiracy theories as productive social practices. While conspiracy theories are often depicted through their epistemological shortcomings and associated with social and political margins, this article traces the nascent threads across anthropological scholarship to reach an emic understanding of those narratives and their sociopolitical reverberations and proposes approaching conspiracy theories through their style, agentive implications, and political effects. Conspiratorial style, the article argues, pertains not to the content of the narrative but to its incessant seeking of covert operations beyond readily visible forms as well as a growing flexibility regarding the narrator's belief in the narrative's veracity. The agentivizing dynamic generated through conspiracism differentiates contemporary conspiracism from its predecessors and involves an empowering current. Finally, the article focuses on how contemporary conspiracism is intricately linked to political contestations. [ABSTRACT FROM AUTHOR]

Research suggests that most brand stakeholders react favorably to cause-related marketing (CRM), and CRM positively impacts the brand. However, a divergence of interests can create tension in the principal – agent relationship, as the owners may feel that managers are investing in CRM at the expense of maximizing profits. Along these lines, recent research suggests that shareholders negatively respond to CRM, which reduces shareholder value. Thus, there are concerns about whether expenses incurred via CRM partnerships create value for all stakeholders. Therefore, because CRM can benefit nonprofits and many of the firm’s stakeholders, the authors utilize agency theory and signaling theory to explore co-branding and competitive signals that mitigate the negative impact on shareholder value. The results provide insights into how nonprofit and brand managers can navigate CRM partnerships by designing campaigns that send signals designed to alleviate investor concerns and reduce shareholder disapproval yet still garner support from other stakeholders. [ABSTRACT FROM AUTHOR]

This study seeks to assess whether CEO Compensation, Managerial Ability, and Tenure individually have a positive and significant impact on the Debt-to-Equity Ratio. Additionally, it aims to determine whether CEO Compensation, Managerial Ability, Tenure, and the Debt-to-Equity Ratio significantly and positively influence Return on Assets. The study employs a quantitative path analysis methodology using Eviews version 12 statistical software. Data comprises secondary sources from annual financial reports available on the Indonesia Stock Exchange website, covering a 5-year span (2018-2022) across 25 companies in the Consumer Non-Cyclicals sector listed on the IDX, resulting in 125 observations. The findings reveal that (1) CEO Compensation does not positively affect the Debt-to-Equity Ratio, (2) CEO Managerial Ability negatively impacts the Debt-to-Equity Ratio, (3) CEO Tenure does not negatively affect the Debt-to-Equity Ratio, (4) CEO Compensation does not positively influence Return on Assets, (5) CEO Managerial Ability does not positively impact Return on Assets, (6) CEO Tenure does not have a positive effect on Return on Assets, (7) the Debt-to-Equity Ratio negatively impacts Return on Assets, and (8) the Debt-to-Equity Ratio does not mediate the effect of CEO Tenure on Return on Assets. [ABSTRACT FROM AUTHOR]

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This study focuses on potential inhibiting and driving factors of corporate social responsibility (CSR) controversies including board monitoring intensity and audit committee quality with a particular focus on risky firms. We draw on agency, resource dependence, and slack financial resources theories to explain this association. Using an international sample between 2002–2019 and executing fixed-effects regression and Hayes's moderation analysis methodology, we find that risky firms tend to commit more CSR controversies. Furthermore, CSR performance, firm complexity, and indebtedness exacerbate CSR controversies, whereas larger boards mitigate them. Moreover, while board monitoring intensity and audit committee quality do not prevent committing CSR controversies in absolute terms, they alleviate risky firms' CSR controversies tendency. The findings confirm agency theory and the monitoring function of the board in mitigating CSR controversies. In line with the resource dependence theory, audit committees' independent members and members with different skills and expertise provide critical resources that help prevent CSR controversies. [ABSTRACT FROM AUTHOR]

There are ongoing debates globally regarding excessive executive compensation, the perceived weak link between pay and performance, and the widening inequality gap. The South African corporate governance code King IV's Principle 14 addresses the need for fair, responsible, and transparent remuneration. At the same time, the newly enacted Companies Amendment Act No. 16 of 2024 in South Africa emphasizes transparency in compensation, shareholder voting, and responding to shareholder feedback. This study conducts a systematic literature review of 30 articles on the transparency of executive remuneration disclosures and their determinants by analyzing Scopus-indexed articles published between 2010 and 2023, selected through specific keyword searches. The findings suggest an increasing focus on research regarding the disclosure of executive compensation, predominantly conducted in the Global North and primarily framed through agency theory. Studies exploring the factors influencing executive remuneration and the relationship between pay and performance are prevalent, with mixed results generally indicating a positive connection. Firm size emerges as a key factor in transparency, and many studies employ binary scoring to evaluate whether executive compensation disclosure is present. This paper provides valuable insights for investors, analysts, and policymakers and adds to the current understanding of executive remuneration transparency. [ABSTRACT FROM AUTHOR]

The corporate governance ratings of companies, which are published by independent agencies, are actively used by stakeholders to analyze agency hazards. However, little is known about whether stakeholders of European cross-border acquirers influence the outcomes of announced deals (in terms of completion vs. abandonment) based on these ratings. We argue that the agency costs of acquirers who have better corporate governance ratings are perceived to be lower, resulting in a higher likelihood of deal completion. Based on a sample of 1246 announced cross-border acquisitions undertaken by European MNEs, our results show that acquirer corporate governance ratings—as measured by Sustainalytics data—are positively associated with the likelihood of deal completion. Our study further shows that the relationship between acquirer corporate governance ratings and the likelihood of deal completion is stronger for large acquirers and public targets since such deals are subject to additional agency costs. This study contributes to agency theory, the literature on European acquisition outcomes, and the literature on European corporate governance. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to examine the literature from the Web of Science database published on board committees between 2002 and 2023 and outline the quantitative summary, journey of board committees' research and suggest future research directions. Design/methodology/approach: This study examines bibliometric-content analysis combined with a systematic literature review of articles on board committees to document the summary of the field. The authors used co-citation, co-occurrence and cluster analysis under bibliometric-content analysis to present the field summary. Findings: Board committee composition, such as their gender, independence and expertise, as well as factors affecting corporate governance, such as reporting quality, earnings management and board monitoring, all have a significant impact on board committee literature. The field is getting growing attention from authors, journals and countries. Nevertheless, there is a need for further exploration in areas like expertise, member age and tenure, the economic crisis and the nomination and remuneration committee, which have not yet received sufficient attention. Originality/value: This paper has both theoretical and practical contributions. From a theoretical perspective, this study substantiates the prevalence of agency theory within board committee literature, reinforcing the foundational role of agency theory in shaping discussions about board committees. On practical ground, the comprehensive overview of board committee literature offers scholars a road map for navigating this field and directing their future research journey. The identification of research gaps in certain areas serves as a catalyst for scholars to explore untapped dimensions, enabling them to strengthen the essence of the committees' performance. [ABSTRACT FROM AUTHOR]

Purpose: Theory is an essential prerequisite in the development and maturation of any scholarly discipline. This study offers insight into theory development in reverse logistics (RL) studies, provides a synopsis of the theories employed in RL studies, and presents a comprehensive framework for choosing and applying theories in RL studies. Design/methodology/approach: Using the systematic literature review approach, 265 various RL articles were analysed to discover the trend in using theories in RL studies and classify the individual theories employed. The analysis of the theoretical classification is presented to explain the type and frequency of the usage of theories. Findings: The analysis discovered 52 specific theories from the sample. These theories were categorised under various categories: competitive, inventory, economic, decision, etc. The institutional, stakeholder, transaction cost economies, resource-based view, natural resource-based view, dynamic capability, agency and theory of planned behaviour were some of the key theories discovered. Finally, a comprehensive framework is provided to aid researchers in choosing and utilising theories. Research limitations/implications: This study gives authors, reviewers and editors perspectives on utilising theories in RL studies. It will give them the impetus to develop theories in RL and limit the borrowing or extension of theories from other disciplines to RL studies. Originality/value: To the best of the researcher's knowledge, this is the first attempt to comprehensively provide an anatomical perspective into theory usage in RL studies. Besides, this study's proposed framework for selecting and using theories is a novelty in the domain of RL. [ABSTRACT FROM AUTHOR]

In 2012, the Vietnamese government enacted the institutional autonomy policy to support the reform process of the higher education system. The autonomy policy signifies the transfer of decision-making authority from ministries to public universities to increase university performance and competitiveness in the globalized knowledge economy. This paper examines the nature of autonomy as a new form of governance in Vietnamese higher education through the lens of agency theory. I used thematic analysis to analyze policy documents released by the Vietnamese government between 1993 and 2021. The findings indicate autonomy means Vietnamese public universities have authority to make decisions on primary activities; yet they must be accountable for their decision-making and responsible for funding sources. The study contributes to the literature on comparative and international higher education by providing a better understanding of autonomy in a post-Soviet context and informing a transformative approach to policy practices for the higher education reform. [ABSTRACT FROM AUTHOR]

This study explores the third type of agency problem concerning the tension between shareholders and stakeholders. It does so by analysing whether small and medium‐sized enterprises (SMEs) eligible for a temporary debt suspension programme favour the short‐term interests of their shareholders or stakeholders, or the firm's long‐term competitiveness. Using information from an Italian debt moratorium programme aimed at alleviating the financial pressure on SMEs during the financial crisis, we built a rich database of 37,465 limited liability companies eligible for the programme between 2006 and 2015. We then used a difference‐in‐differences model to analyse the data. Our findings indicate that the debt suspension programme, designed to help eligible firms survive temporary financial constraints, did promote their long‐term competitiveness. However, it also produced some undesirable consequences, such as benefiting shareholders in the short term at the expense of other key stakeholders. [ABSTRACT FROM AUTHOR]

This research documents that a firm's bankruptcy risk increases with its climate change exposure. This study further investigates the underlying mechanisms and finds that this effect is stronger for firms with lower operating cash flows or tighter financial constraints. Consistent with the agency theory of debt, the evidence suggests that improving the protection of creditor rights can mitigate the adverse impact of climate change. In addition, two distinct sets of quasi‐natural experiments are exploited to establish causality and eliminate alternative explanations. Specifically, the positive effect of climate change exposure on bankruptcy risk is weaker after the 2015 Paris Agreement, which raised public awareness of climate issues, and stronger for firms headquartered in countries that are more severely affected by natural disasters. Cross‐sectional analyses reveal that the main effect is more pronounced among loss firms, firms with higher levels of asset tangibility, cash flow volatility or profit volatility, and firms with worse solvency performance. Overall, the collective evidence indicates that climate change has real consequences for firm financial conditions. [ABSTRACT FROM AUTHOR]

In response to large pay disparities caused by rising CEO compensation and stagnant employee pay, US financial regulators have taken several initiatives to mobilise shareholders. However, the ability of these initiatives to enhance shareholder engagement and reduce excessive CEO compensation has been questioned. Using a large sample of 1594 non‐financial firms from the Russell 3000 index over 2013–2019, we disentangle the complex role that shareholder engagement towards CEO‐to‐worker pay disparities plays on CEO compensation. We find that higher CEO‐to‐worker pay disparities increase shareholder dissent say on pay votes and that, paradoxically, shareholder dissent say on pay votes increase CEO compensation. Furthermore, we provide evidence that shareholder engagement mediates the relationship between CEO‐to‐worker pay disparities and CEO compensation through their say on pay votes. Our findings are consistent with the relative deprivation theory as shareholders react to large pay disparities to avoid the negative consequences of a feeling of deprivation on employees. They are also in line with the agency theory, as shareholder reactions to large CEO‐to‐worker pay disparities trigger reactions from the remuneration committee to better align CEO pay with their interests. Overall, our findings support the existence of a shareholder engagement channel driven by social comparison mechanisms and agency responses. This study has important implications for regulators by unpacking the usefulness of these regulatory initiatives to shareholders and also documenting their unintended consequences on CEO compensation. [ABSTRACT FROM AUTHOR]