K.P. (Krishnan) Nair
An International Extension of the Managerial Power Approach to Studying Executive Compensation
Relational ownership is a highly prevalent corporate governance strategy for shareholders of European publicly listed firms. The literature speaks of relational ownership when a substantial fraction (or block) of a firm´s shares are owned by a party that is durably and often multiply tied to the firm and is actively involved in firm decision making. Although some researchers have found that relational ownership has performance enhancing effects, the available empirical evidence to date is mixed and is largely silent on the more fine grained mechanisms through which relational ownership may affect firm performance and value.
The proposed PhD project aims to contribute to our understanding of relational ownership by: 1) further developing the conceptualization and operationalization of relational ownership of publicly listed firms, 2) unveiling the mechanisms and channels through which relational ownership may affect firm performance, and 3) researching the institutional conditions that explain both the prevalence and performance effects of relational ownership.
Empirically, this project will focus on the European context not only because relational ownership is a dominant yet discretionary strategy for the shareholders of European publicly listed firms, but also because European countries tend to have certain unique institutional features that may affect this strategy´s effectiveness.
- Corporate governance, ownership, blockholding, relational investors, European firms, institution-based view, multi-level analysis.
- Time frame
- 2013 -
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