Strategic Corporate Governance (CG) research has come a long way, typically assessing (1) corporate actors, e.g., managers, board members, shareholders, and other stakeholders, (2) company goals, e.g., time horizons and risk preferences, and (3) CG mechanisms, e.g., control through ownership structures and board positions as well as incentives through compensation arrangements. Significant research progress has been made in the last years, e.g. about the importance of industrial expertise of board members (Oehmichen et al., 2017), and the opportunity to steer CEOs’ time horizon and attention for corporate social performance with the time horizons used in CEO compensation arrangements (McGuire et al., 2017).
However, our world is changing fundamentally. The new digital era forces companies to handle (1) new technologies and assets, (2) build new digital knowledge and capabilities, and (3) face rapidly changing market structures.
CG research needs to incorporate these new digital challenges to provide answers and solutions that are meaningful to firms, regulators, and the society. Professor Jana Oehmichen’s lecture thus provides an outlook on an integrated research agenda. Selected topics include:
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"Should you fear technology?" That was the question PhD student Femke Cnossen, from the Faculty of Economics and Business, addressed during her prize-winning pitch at the UG 3MT competition held in March of this year.
When firms need more resources to meet increasing demand, they usually add more resources. However, when demand declines, will firms reduce idle resources to respond to the decline? The answer is yes, but the reduction will often not be equivalent...