Corporate Governance and Corporate Agility

21 Pages Posted: 21 Nov 2019 Last revised: 4 Dec 2019

See all articles by Kenneth Lehn

Kenneth Lehn

University of Pittsburgh - Finance Group

Date Written: August 21, 2019

Abstract

Most of the extensive literature on corporate governance during the past fifty years has approached the topic from the perspective of agency theory and it has focused on dimensions of governance that are relatively easy to measure (e.g., ownership structure, size and structure of boards, executive compensation). Although the literature has greatly enhanced our knowledge of corporate governance, this focus has likely blinded us to other dimensions of governance that are hard to measure, unrelated to agency costs, but important determinants of firm performance and survival. This paper suggests one such dimension, corporate agility, which refers to the speed with which firms adapt to changes in their environments and discusses the potential role that governance plays in promoting or impeding corporate agility.

Keywords: corporate governance, corporate agility, evolution, survival

JEL Classification: G3, K2, L2, M2

Suggested Citation

Lehn, Kenneth, Corporate Governance and Corporate Agility (August 21, 2019). Available at SSRN: https://ssrn.com/abstract=3485307 or http://dx.doi.org/10.2139/ssrn.3485307

Kenneth Lehn (Contact Author)

University of Pittsburgh - Finance Group ( email )

372 Mervis Hall
Pittsburgh, PA 15260
United States
412-648-2034 (Phone)

Register to save articles to
your library

Register

Paper statistics

Downloads
148
Abstract Views
727
rank
203,717
PlumX Metrics