A Synthesis of Agency and Managerial Power Theories and Its Applications to Corporate Governance, Management Compensation, and Firm Performance. The existing models of corporate governance in economics and finance based on agency theory do not successfully portray all modern corporations. Thus the importance of a new and rigorous way to study corporate governance can be hardly exaggerated. This project will provide a synthesized theory of corporate governance and is expected to produce highest- ....A Synthesis of Agency and Managerial Power Theories and Its Applications to Corporate Governance, Management Compensation, and Firm Performance. The existing models of corporate governance in economics and finance based on agency theory do not successfully portray all modern corporations. Thus the importance of a new and rigorous way to study corporate governance can be hardly exaggerated. This project will provide a synthesized theory of corporate governance and is expected to produce highest-quality research publishable in top-tier journals. This will, among others, enhance Australia's standing as a knowledge nation. This project is also expected to contribute to the discussions on how to improve corporate governance and regulation of management compensation both in Australia and abroad. Read moreRead less
What do boards do? The measurement of board activity, its impact on firm valuation and board responses to the financial crisis. This study examines what corporate boards do using a novel measurement approach. It is expected that this measure will be widely adopted by industry and academia.
Do director board appointments predict whether CEO pay is in line with company performance? Increasing pay differences between CEOs and the average working Australian have resulted in a less equitable and economically divided society. This issue has reached a critical point as taxpayer money is now needed to fund stimulus packages and finance companies facing insolvency while CEO pay on average has remained unchanged or increased. This inequity has the potential to cause social and political ins ....Do director board appointments predict whether CEO pay is in line with company performance? Increasing pay differences between CEOs and the average working Australian have resulted in a less equitable and economically divided society. This issue has reached a critical point as taxpayer money is now needed to fund stimulus packages and finance companies facing insolvency while CEO pay on average has remained unchanged or increased. This inequity has the potential to cause social and political instability. This research will provide much needed knowledge of how to address this issue including pay benchmarks, knowledge derived from international practice, corporate governance indices as well as understanding of how widespread pay norms have developed.Read moreRead less