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"INDUSTRY EFFECTS ON THE USE OF BOARD AND INSTITUTIONAL INVESTOR MONITORING AND EXECUTIVE INCENTIVE COMPENSATION"

Yasemin Y. Kor, Sharon Watson, and Joseph T. Mahoney

 

First Author :

Yasemin Y. Kor
Business Administration
University of Delaware
214 Lerner Hall
Orchard Road & Amstel Avenue
Newark, DE 19716
USA

302-831-6187
302-831-4196 (Fax)

kory@udel.edu


Second Author :

Sharon Watson
Business Administration
University of Delaware
307 Lerner Hall
Orchard Road & Amstel Avenue
Newark, DE 19716
USA

302-831-4560
302-831-4196 (Fax)

watsons@lerner.udel.edu


Third Author :

Joseph T. Mahoney
Business Administration
University of Illinois at Urbana-Champaign
1206 S. Sixth Street
Room 350 Wohlers Hall, M/C 706
Champaign, IL 61820
USA

217-244-8257
217-244-7969 (Fax)

josephm@uiuc.edu

http://www.business.uiuc.edu/faculty/mahoney.html

 
 
Abstract :
 
This paper develops and empirically tests a theory of the use of board and institutional investor monitoring and the use of executive incentive compensation under different types of uncertainty in the industry. This empirical examination is based on a sample of U.S. firms operating in a wide range of industries. Practical implications derived from this paper direct the attention of both shareholders and governance specialists to critical tradeoffs involved in the use of specific governance mechanisms under demand, competitive, and technological uncertainty.
 
 
Footnotes & Acknowledgements :
 
We thank Vilmos Misangyi, Chamu Sundaramurthy, and Tom Becker for helpful comments on an early version of this article. We are grateful for the research funding for this paper from University of Delaware (General University Research Grant).
 
 
Manuscript Received : 2004
Manuscript Published : 2004
 
 
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