"Corporate Governance and Firm-Level Competitive Behavior: Testing ""Capability"" and ""Motivation"" Effects in the United States Pharmaceutical Industry"
He, Jinyu
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https://hdl.handle.net/2142/84543
Description
Title
"Corporate Governance and Firm-Level Competitive Behavior: Testing ""Capability"" and ""Motivation"" Effects in the United States Pharmaceutical Industry"
Author(s)
He, Jinyu
Issue Date
2005
Doctoral Committee Chair(s)
Mahoney, Joseph T.
Department of Study
Business Administration
Discipline
Business Administration
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
Ph.D.
Degree Level
Dissertation
Keyword(s)
Business Administration, Management
Language
eng
Abstract
To test the hypotheses developed in accordance with the overall theoretical framework, I statistically investigate thirty-seven companies in the U.S. pharmaceutical industry over a three-year time period (1999-2001). The empirical results indicate that the board of directors has practically important resource provision roles. Adding more directors (especially independent outsiders) to the board and separating CEO and chairperson generally enhance a firm's capability for engaging in more assertive and diverse actions. In addition, moderating or motivational effects of the board also exist. Having more directors (especially independent outsiders) and assigning different individuals respectively as the CEO and the chairperson of the board are more effective in preventing shirking and encouraging managers to engage actively in more aggressive competitive actions. The empirical results also suggest that firm capability defines the scale and scope of firm-level competitive activity.
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