unit 8 essay

question- write a review of the article. Your article review must be a minimum of two pages in length. Be sure to address each of the following points in your article review. Identify the premise of the article and supporting points. How does the author describe organizational behavior? Why is organizational behavior important? Which business concepts covered in this course were you able to identify? has to be your own words or i fail unless its quoted and is marked on the reference page

Save your time - order a paper!

Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines

Order Paper Now

article from the CSU library Business Source Complete—- this issue, as our results indicate that conservative and liberal boards differ in

how they reward and penalize their CEOs for prior performance. Results show

that conservative boards more tightly link CEO pay to recent financial perfor-

mance, which is to be expected given their tendency toward person-based

attributions. Our theory suggests that this relationship is a direct consequence

of the conservative preference for proportionality in rewards, which conserva-

tives believe to be an inherently desirable and fair arrangement and therefore

instrumental in retaining CEO talent.

Although the significant interaction between ideology and prior performance

demonstrated support for our theory (H2), an interesting finding was that liberal

and conservative boards in our sample did not meaningfully differ in the

amounts they paid their CEOs following poor financial performance. The differ-

ence became apparent only as performance increased. Using the coefficients

in table 2 to examine the difference in CEO pay granted by conservative and lib-

eral boards (


1 and –1 S.D. of board conservatism, respectively) following

good accounting performance (


1 S.D. of ROA), our results suggest that con-

servative boards pay their CEOs around 14 percent more than liberal boards in

similar situations. This heightened pay sensitivity is even more apparent when

considering market performance, as our results indicate that conservative

boards will pay their CEOs around 18 percent more than will liberal boards fol-

lowing a year of good performance (


1 S.D. of TSR). Conservative boards thus

appear to more strongly subscribe to agency theory prescriptions regarding

pay–performance sensitivity, but this leads to meaningful differences in pay

only at the higher end of the performance spectrum.

When considered in tandem with the board conservatism main effect, how-

ever, this is not necessarily surprising. The general tendency to ascribe a higher

value to the CEO position (controlling for prior performance) coupled with the

more pronounced belief that CEOs have earned their positions through ability

and hard work (as system justification theory suggests) helps explain why con-

servative boards do not penalize CEOs so harshly that their pay falls below

what a liberal board would pay under similar conditions. In other words, it

appears that although conservative boards punish CEOs more harshly for poor

performance in a relative sense—the slope of the relationship between pay

and performance is steeper for conservative boards—they also assess these

penalties relative to a higher baseline reference point, i.e., board conservatism

has a positive main effect on pay.

Future Research on Board Political Ideology

Our study represents an important first step in unpacking the ideological foun-

dations of corporate governance. By showing that boards’ ideological beliefs

manifest in their decisions on CEO pay, we hope to encourage future research

on the implications of board ideology across an array of domains. We envision

that board ideology will be a particularly meaningful predictor of (1) boards’

decisions related to governance and firm strategy, (2) boards’ information dis-

semination behaviors, and (3) boards’ influences on other organizational actors

whose own ideological orientations will shape how they interact with firms.

First, our ideas should be readily generalizable to other governance out-

comes. We focused on CEO pay arrangements, but conservative and liberal

boards may also have divergent views on what constitutes an appropriate


Administrative Science Quarterly 62 (2017)

CEO-to-worker pay ratio. Conservatives tend to be more tolerant of income

inequality than are liberals (Mitchell et al., 2003), which implies that conserva-

tive boards will be more accepting of a large CEO–worker pay gap. Political

ideology may also play a role in shaping how boards respond to failures, such

as bankruptcies, accounting restatements, and product recalls, as conservative

and liberal boards may differ in both the extent to which they place blame on

the individuals at the top of the firm and in their views on appropriate penalties

for failure (e.g., Tetlock et al., 2013). It is also possible that a board’s ideological

beliefs will manifest in the guidance it offers to top managers on strategic deci-

sions such as acquisitions, divestitures, and new product launches. Relatedly,

the broader question of whether and when board ideology will supersede CEO

ideology in shaping a firm’s strategy remains unexplored, and future research

examining how board ideology enhances or hinders CEO discretion could yield

important new insights.

A second potentially fruitful avenue for future research pertains to the diffu-

sion of practices between and among boards of directors. Researchers have

shown that directors act as conduits in the diffusion across networks of gov-

ernance practices, such as poison pills and golden parachutes (Davis and

Greve, 1997), and strategic tendencies, such as international diversification

(Connelly et al., 2011), but this literature has largely overlooked the idea that

directors’ individual preferences will influence the extent to which they partici-

pate in diffusion processes (Shropshire, 2010). Our arguments suggest that

directors may differ in their motivation to advocate for a given practice accord-

ing to how well the practice aligns with their political ideologies. For instance,

conservative directors will arguably be more inclined to buy into the neoclassi-

cal economics assumption of universal self-interest (cf. Jost et al., 2003a),

which may in turn cause them to more actively promulgate governance prac-

tices aimed at reining in managerial opportunism. Along these lines, perhaps

liberal directors play a more central role in the spread of corporate social

responsibility practices across the business landscape. These are just some of

many potential avenues worth exploring in the domain of director ideology and

the diffusion of corporate practices.

Finally, it could be interesting to investigate how board ideology affects the

perceptions and actions of other organizational stakeholders (e.g., Briscoe,

Chin, and Hambrick, 2014). For instance, the increasing prevalence of share-

holder ‘‘say-on-pay’’ votes offers an opportunity for scholars to develop new

insights into how shareholders act on their governance preferences (Krause,

Whitler, and Semadeni, 2014). Our theory raises the possibility that board ideol-

ogy will influence how shareholders perceive and subsequently vote on CEO

pay proposals. Relatedly, some shareholders may prefer to invest in companies

whose boards’ ideologies align with their own, as this would signal congruence

in objectives. Top executives may exhibit a similar preference for homophily

when deciding where to work. Lastly, secondary stakeholders such as social

activists may partially base their strategic and tactical decisions on the degree

to which their espoused ideological views align with or differ from targets’

board ideologies.

Executive compensation has long been among the most widely debated

topics in the social sciences, with corporate governance scholars in particular

devoting considerable effort to understanding the logic behind CEO pay. Our

study offers a new vantage on corporate governance by demonstrating that the

Gupta and Wowak


political ideologies of boards of directors manifest in their decisions about CEO

pay. The contrasting belief systems that characterize liberal and conservative

ideologies represent different philosophies on how to govern, an implication of

which is a more heterogeneous perspective on exactly what constitutes good

governance. We hope that our study will serve as a foundation for future

inquiry on the organizational implications of board political ideology.


We thank Abhijith Acharya, Warren Boeker, Forrest Briscoe, Craig Crossland, Don

Hambrick, and Vilmos Misangyi for their helpful comments on earlier versions of this



Adams, R. B., A. N. Licht, and L. Sagiv

2011 ‘‘Shareholders and stakeholders: How do directors decide?’’ Strategic Manage-

ment Journal, 32: 1331–1355.

Aguilera, R. V., and G. Jackson

2003 ‘‘The cross-national diversity of corporate governance: Dimensions and determi-

nants.’’ Academy of Management Review, 28: 447–465.

Ansolabehere, S., J. M. de Figueiredo, and J. M. Snyder

2003 ‘‘Why is there so little money in U.S. politics?’’ Journal of Economic Perspec-

tives, 17: 105–130.

Bascle, G.

2008 ‘‘Controlling for endogeneity with instrumental variables in strategic manage-

ment research.’’ Strategic Organization, 6: 285–327.

Bebchuk, L. A., and J. M. Fried

2004 Pay without Performance: The Unfulfilled Promise of Executive Compensation.

Cambridge, MA: Harvard University Press.

Berle, A. A., and G. C. Means

1932 The Modern Corporation and Private Property. New York: Macmillan.

Briscoe, F., M. K. Chin, and D. C. Hambrick

2014 ‘‘CEO ideology as an element of the corporate opportunity structure for social

activists.’’ Academy of Management Journal, 57: 1786–1809.

Buffett, W.

2007 ‘‘Chairman’s letter.’’ Berkshire Hathaway 2006 Annual Report. www.berkshire

hathaway.com/letters/2006ltr.pdf. Accessed 7/15/15.

Burris, V.

2001 ‘‘The two faces of capital: Corporations and individual capitalists as political

actors.’’ American Sociological Review, 66: 361–381.

Carroll, J. S., W. T. Perkowitz, A. J. Lurigio, and F. M. Weaver

1987 ‘‘Sentencing goals, causal attributions, ideology, and personality.’’ Journal of

Personality and Social Psychology, 52: 107–118.

Chan, D.

1998 ‘‘Functional relations among constructs in the same content domain at different

levels of analysis: A typology of composition models.’’ Journal of Applied Psychology,

83: 234–246.

Chin, M. K., D. C. Hambrick, and L. K. Trevin


2013 ‘‘Political ideologies of CEOs: The influence of executives’ values on corporate

social responsibility.’’ Administrative Science Quarterly, 58: 197–232.

Chizema, A., X. Liu, J. Lu, and L. Gao

2015 ‘‘Politically connected boards and top executive pay in Chinese listed firms.’’

Strategic Management Journal, 36: 890–906.


Administrative Science Quarterly 62 (2017)

Christensen, D. M., D. S. Dhaliwal, S. Boivie, and S. D. Graffin

2015 ‘‘Top management conservatism and corporate risk strategies: Evidence from

managers’ personal political orientation and corporate tax avoidance.’’ Strategic

Management Journal, 36: 1918–1938.

Connelly, B. L., J. L. Johnson, L. Tihanyi, and A. E. Ellstrand

2011 ‘‘More than adopters: Competing influences in the interlocking directorate.’’

Organization Science, 22: 688–703.

Daily, C. M., D. R. Dalton, and A. A. Cannella

2003 ‘‘Corporate governance: Decades of dialogue and data.’’ Academy of Manage-

ment Review, 28: 371–382.

Daily, C. M., J. L. Johnson, A. E. Ellstrand, and D. R. Dalton

1998 ‘‘Compensation committee composition as a determinant of CEO compensa-

tion.’’ Academy of Management Journal, 41: 209–220.

Davis, G. F., and H. R. Greve

1997 ‘‘Corporate elite networks and governance changes in the 1980s.’’ American

Journal of Sociology, 103: 1–37.

Detomasi, D. A.

2008 ‘‘The political roots of corporate social responsibility.’’ Journal of Business

Ethics, 82: 807–819.

Deutsch, Y.

2005 ‘‘The impact of board composition on firms’ critical decisions: A meta-analytic

review.’’ Journal of Management, 31: 424–444.

England, G. W.

1967 ‘‘Personal value systems of American managers.’’ Academy of Management

Journal, 10: 53–68.

Ensley, M. J.

2009 ‘‘Individual campaign contributions and candidate ideology.’’ Public Choice, 138:


Erikson, R. S., and K. L. Tedin

2003 American Public Opinion: Its Origins, Context, and Impact. New York: Addison

Wesley Longman.

Fama, E. F.

1980 ‘‘Agency problems and the theory of the firm.’’ Journal of Political Economy,

88: 288–307.

Fama, E. F., and M. C. Jensen

1983 ‘‘Separation of ownership and control.’’ Journal of Law and Economics, 26:


Festinger, L.

1954 ‘‘A theory of social comparison processes.’’ Human Relations, 7: 117–140.

Finkelstein, S., and B. K. Boyd

1998 ‘‘How much does the CEO matter? The role of managerial discretion in the set-

ting of CEO compensation.’’ Academy of Management Journal, 41: 179–199.

Finkelstein, S., and D. C. Hambrick

1988 ‘‘Chief executive compensation: A synthesis and reconciliation.’’ Strategic

Management Journal, 9: 543–558.

Finkelstein, S., D. C. Hambrick, and A. A. Cannella

2009 Strategic Leadership: Theory and Research on Executives, Top Management

Teams, and Boards. New York: Oxford University Press.

Fiss, P. C., and E. J. Zajac

2004 ‘‘The diffusion of ideas over contested terrain: The (non)adoption of a share-

holder value orientation among German firms.’’ Administrative Science Quarterly, 49:


Gupta and Wowak


Francia, P. L., J. C. Green, P. S. Herrnson, L. W. Powell, and C. Wilcox

2003 The Financiers of Congressional Elections. New York: Columbia University


Francia, P. L., J. C. Green, P. S. Herrnson, L. W. Powell, and C. Wilcox

2005 ‘‘Limousine liberals and corporate conservatives: The financial constituencies of

the Democratic and Republican parties.’’ Social Science Quarterly, 86: 761–778.

Fremeth, A., B. K. Richter, and B. Schaufele

2013 ‘‘Campaign contributions over CEOs’ careers.’’ American Economic Journal:

Applied Economics, 5: 170–188.

Fulmer, I. S.

2009 ‘‘The elephant in the room: Labor market influences on CEO compensation.’’

Personnel Psychology, 62: 659–695.

Gerhart, B., and S. L. Rynes

2003 Compensation: Theory, Evidence, and Strategic Implications. Thousand Oaks,

CA: Sage.

Gomez-Mejia, L. R., P. Berrone, and M. Franco-Santos

2010 Compensation and Organizational Performance. Armonk, NY: M.E. Sharpe.

Goren, P., C. M. Federico, and M. C. Kittilson

2009 ‘‘Source cues, partisan identities, and political value expression.’’ American

Journal of Political Science, 53: 805–820.

Green, D., B. Palmquist, and E. Schickler

2002 Partisan Hearts and Minds: Political Parties and the Social Identities of Voters.

New Haven, CT: Yale University Press.

Grier, K. B., M. C. Munger, and B. E. Roberts

1994 ‘‘The determinants of industry political activity, 1978–1986.’’ American Political

Science Review, 88: 911–926.

Hambrick, D. C.

2007 ‘‘Upper echelons theory: An update.’’ Academy of Management Review, 32:


Hambrick, D. C., and S. Finkelstein

1987 ‘‘Managerial discretion: A bridge between polar views on organizations.’’ In

L. L. Cummings and B. M. Staw (eds.), Research in Organizational Behavior, 9:

369–406. Greenwich, CT: JAI Press.

Hambrick, D. C., and P. A. Mason

1984 ‘‘Upper echelons: The organization as a reflection of its top managers.’’ Acad-

emy of Management Review, 9: 193–206.

Hetherington, M. J.

2009 ‘‘Review article: Putting polarization in perspective.’’ British Journal of Political

Science, 39: 413–448.

Higgins, E. T., and D. C. Molden

2003 ‘‘How strategies for making judgments and decisions affect cognition: Moti-

vated cognition revisited.’’ In G. V. Bodenhausen and A. J. Lambert (eds.), Founda-

tions of Social Cognition: 211–235. Mahway, NJ: Lawrence Erlbaum Associates.

Hutton, I., D. Jiang, and A. Kumar

2014 ‘‘Corporate policies of Republican managers.’’ Journal of Financial and Quantita-

tive Analysis, 49: 1279–1310.

Jensen, M. C., and W. H. Meckling

1976 ‘‘Theory of the firm: Managerial behavior, agency costs and ownership struc-

ture.’’ Journal of Financial Economics, 3: 305–360.

Jensen, M. C., and K. J. Murphy

1990 ‘‘Performance pay and top-management incentives.’’ Journal of Political

Economy, 98: 225–264.


Administrative Science Quarterly 62 (2017)

Johnson, S. G., K. Schnatterly, and A. D. Hill

2013 ‘‘Board composition beyond independence: Social capital, human capital, and

demographics.’’ Journal of Management, 39: 232–262.

Jost, J. T.

2006 ‘‘The end of the end of ideology.’’ American Psychologist, 61: 651–670.

Jost, J. T., M. R. Banaji, and B. A. Nosek

2004 ‘‘A decade of system justification theory: Accumulated evidence of conscious

and unconscious bolstering of the status quo.’’ Political Psychology, 25: 881–919.

Jost, J. T., S. Blount, J. Pfeffer, and G. Hunyady

2003a ‘‘Fair market ideology: Its cognitive-motivational underpinnings.’’ In B. M. Staw

and R. M. Kramer (eds.), Research in Organizational Behavior, 25: 53–91. New York:


Jost, J. T., C. M. Federico, and J. L. Napier

2009 ‘‘Political ideology: Its structure, functions, and elective affinities.’’ Annual

Review of Psychology, 60: 307–337.

Jost, J. T., J. Glaser, A. W. Kruglanski, and F. J. Sulloway

2003b ‘‘Political conservatism as motivated social cognition.’’ Psychological Bulletin,

129: 339–375.

Jost, J. T., B. A. Nosek, and S. D. Gosling

2008 ‘‘Ideology: Its resurgence in social, personality, and political psychology.’’

Perspectives on Psychological Science, 3: 126–136.

Klein, K. J., and S. W. J. Kozlowski

2000 ‘‘From micro to meso: Critical steps in conceptualizing and conducting

multilevel research.’’ Organizational Research Methods, 3: 211–236.

Knight, K.

2006 ‘‘Transformations of the concept of ideology in the twentieth century.’’

American Political Science Review, 100: 619–626.

Krause, R., K. A. Whitler, and M. Semadeni

2014 ‘‘Power to the principals! An experimental look at shareholder say-on-pay

voting.’’ Academy of Management Journal, 57: 94–115.

Krishnan, R., and R. K. Kozhikode

2015 ‘‘Status and corporate illegality: Illegal loan recovery practices of commercial

banks in India.’’ Academy of Management Journal, 58: 1287–1312.

Kuhnen, C. M., and A. Niessen

2012 ‘‘Public opinion and executive compensation.’’ Management Science, 58:


Langone, K.

2015 ‘‘CNBC Squawk Box.’’ May 13: http://video.cnbc.com/gallery/?video=

3000379105. Accessed 7/15/15.

Liang, K.-Y., and S. L. Zeger

1986 ‘‘Longitudinal data analysis using generalized linear models.’’ Biometrika, 73:


McAdam, D., and K. Kloos

2014 Deeply Divided: Racial Politics and Social Movements in Postwar America.

New York: Oxford University Press.

McCarty, N., K. T. Poole, and H. Rosenthal

2006 Polarized America: The Dance of Ideology and Unequal Riches. Cambridge,

MA: MIT Press.

Mitchell, G., P. E. Tetlock, B. A. Mellers, and L. D. Ordo



1993 ‘‘Judgments of social justice: Compromises between equality and efficiency.’’

Journal of Personality and Social Psychology, 65: 629–639.

Mitchell, G., P. E. Tetlock, D. G. Newman, and J. S. Lerner

2003 ‘‘Experiments behind the veil: Structural influences on judgments of social

justice.’’ Political Psychology, 24: 519–547.

Gupta and Wowak


Monks, R. A. G., and N. Minow

2011 Corporate Governance, 5th ed. Chichester, West Sussex: Wiley.

Murray, M. P.

2006 ‘‘Avoiding invalid instruments and coping with weak instruments.’’ Journal of

Economic Perspectives, 20: 111–132.

O’Reilly, C. A., B. G. Main, and G. S. Crystal

1988 ‘‘CEO compensation as tournament and social comparison: A tale of two

theories.’’ Administrative Science Quarterly, 33: 257–274.

Palepu, K.

1985 ‘‘Diversification strategy, profit performance, and the entropy measure.’’ Strate-

gic Management Journal, 6: 239–255.

Pathak, S., R. E. Hoskisson, and R. A. Johnson

2014 ‘‘Settling up in CEO compensation: The impact of divestiture intensity and con-

textual factors in refocusing firms.’’ Strategic Management Journal, 35: 1124–1143.

Poole, K. T., and H. Rosenthal

1984 ‘‘The polarization of American politics.’’ Journal of Politics, 46: 1061–1079.

Rajagopalan, N., and S. Finkelstein

1992 ‘‘Effects of strategic orientation and environmental change on senior manage-

ment reward systems.’’ Strategic Management Journal, 13: 127–141.

Rasinski, K. A.

1987 ‘‘What’s fair is fair—Or is it? Value differences underlying public views about

social justice.’’ Journal of Personality and Social Psychology, 53: 201–211.

Roberts, D. R.

1956 ‘‘A general theory of executive compensation based on statistically tested

propositions.’’ Quarterly Journal of Economics, 70: 270–294.

Rose, N., and A. Shepard

1997 ‘‘Firm diversification and CEO compensation: Managerial ability or CEO

entrenchment.’’ RAND Journal of Economics, 28: 489–514.

Rosenstone, S. J., and J. M. Hansen

1992 Mobilization, Participation, and Democracy in America. New York: MacMillan.

Schwartz, S.

1996 ‘‘Value priorities and behavior: Applying a theory of integrated value systems.’’

In C. Seligman, J. M. Olson, and M. P. Zanna (eds.), The Psychology of Values: The

Ontario Symposium: 1–24. Hillsdale, NJ: Erlbaum.

Sears, D. O., and C. L. Funk

1999 ‘‘Evidence of the long-term persistence of adults’ political predispositions.’’

Journal of Politics, 61: 1–28.

Shropshire, C.

2010 ‘‘The role of the interlocking director and board receptivity in the diffusion of

practices.’’ Academy of Management Review, 35: 246–264.

Shrout, P. E., and J. L. Fleiss

1979 ‘‘Intraclass correlations: Uses in assessing rater reliability.’’ Psychological Bulle-

tin, 86: 420–428.

Skitka, L. J., and P. E. Tetlock

1992 ‘‘Allocating scarce resources: A contingency model of distributive justice.’’

Journal of Experimental Social Psychology, 28: 491–522.

Social Security Administration

2015 ‘‘National average wage index.’’ https://www.ssa.gov/oact/cola/awidevelop

.html. Accessed 3/2/2016.

Tedin, K. L.

1987 ‘‘Political ideology and the vote.’’ Research in Micropolitics, 2: 63–94.

Tetlock, P. E.

2000 ‘‘Cognitive biases and organizational correctives: Do both disease and cure


Administrative Science Quarterly 62 (2017)

depend on the politics of the beholder?’’ Administrative Science Quarterly, 45:


Tetlock, P. E., F. M. Vieider, S. V. Patil, and A. M. Grant

2013 ‘‘Accountability and ideology: When left looks right and right looks left.’’ Organi-

zational Behavior and Human Decision Processes, 122: 22–35.

Tosi, H. L., S. Werner, J. P. Katz, and L. R. Gomez-Mejia

2000 ‘‘How much does performance matter? A meta-analysis of CEO pay studies.’’

Journal of Management, 26: 301–339.

van Ees, H., J. Gabrielsson, and M. Huse

2009 ‘‘Toward a behavioral theory of boards and corporate governance.’’ Corporate

Governance: An International Review, 17: 307–319.

van Essen, M., J. Otten, and E. J. Carberry

2015 ‘‘Assessing managerial power theory: A meta-analytic approach to understand-

ing the determinants of CEO compensation.’’ Journal of Management, 41: 164–202.

Wade, J., C. A. O’Reilly, III, and I. Chandratat

1990 ‘‘Golden parachutes: CEOs and the exercise of social influence.’’ Administrative

Science Quarterly, 35: 587–603.

Walker, D. I.

2011 ‘‘Evolving executive equity compensation and the limits of optimal contracting.’’

Vanderbilt Law Review, 64: 609–674.

Walsh, J. P., and J. K. Seward

1990 ‘‘On the efficiency of internal and external control mechanisms.’’ Academy of

Management Review, 15: 421–458.

Weiner, B.

2006 Social Motivation, Justice, and the Moral Emotions: An Attributional Approach.

Mahwah, NJ: Lawrence Erlbaum Associates.

Weiner, B., D. Osborne, and U. Rudolph

2011 ‘‘An attributional analysis of reactions to poverty: The political ideology of the

giver and the perceived morality of the receiver.’’ Personality and Social Psychology

Review, 15: 199–213.

Westphal, J. D.

1998 ‘‘Board games: How CEOs adapt to increases in structural board independence

from management.’’ Administrative Science Quarterly, 43: 511–537.

Westphal, J. D., and D. L. Deephouse

2011 ‘‘Avoiding bad press: Interpersonal influence in relations between CEOs and

journalists and the consequences for press reporting about firms and their leader-

ship.’’ Organization Science, 22: 1061–1086.

Westphal, J. D., and I. Stern

2006 ‘‘The other pathway to the boardroom: Interpersonal influence behavior as a

substitute for elite credentials and majority status in obtaining board appointments.’’

Administrative Science Quarterly, 51: 169–204.

Westphal, J. D., and E. J. Zajac

1994 ‘‘Substance and symbolism in CEOs’ long-term incentive plans.’’ Administrative

Science Quarterly, 39: 367–390.

Westphal, J. D., and E. J. Zajac

1995 ‘‘Who shall govern? CEO/board power, demographic similarity, and new direc-

tor selection.’’ Administrative Science Quarterly, 40: 60–83.

Westphal, J. D., and E. J. Zajac

2013 ‘‘A behavioral theory of corporate governance: Explicating the mechanisms of

socially situated and socially constituted agency.’’ Academy of Management Annals,

7: 607–661.

Wooldridge, J. M.

2013 Introductory Econometrics: A Modern Approach, 5th ed. Mason, OH: South-

Western Cengage.

Gupta and Wowak


Wowak, A. J., D. C. Hambrick, and A. D. Henderson

2011 ‘‘Do CEOs encounter within-tenure settling up? A multiperiod perspective on

executive pay and dismissal.’’ Academy of Management Journal, 54: 719–739.

Zajac, E. J., and J. D. Westphal

1995 ‘‘Accounting for the explanations of CEO compensation: Substance and symbo-

lism.’’ Administrative Science Quarterly, 40: 283–308.

Zucker, G. S., and B. Weiner

1993 ‘‘Conservatism and perceptions of poverty: An attributional analysis.’’ Journal of

Applied Social Psychology, 23: 925–943.

Authors’ Biographies

Abhinav Gupta

is an assistant professor of management at the University of

Washington’s Foster School of Business, 527 Paccar Hall, Seattle, WA 98195 (e-mail:

abhinavg@uw.edu). His current research focuses on understanding how political ideolo-

gies of organizational stakeholders, including employees, legislators, and elites, influ-

ence organizational practices. He also studies interorganizational diffusion, social

activism, corporate governance, and strategic leadership. He received his Ph.D. in man-

agement from the Smeal College of Business of the Pennsylvania State University.

Adam J. Wowak

is an assistant professor of management at the University of Notre

Dame’s Mendoza College of Business, 353 MCOB, Notre Dame, IN 46556 (e-mail:

awowak@nd.edu). His research focuses on strategic leadership and corporate govern-

ance, with a particular emphasis on top executives and their effects on organizational

outcomes. He received his Ph.D. in management from the Pennsylvania State



Administrative Science Quarterly 62 (2017)

"Looking for a Similar Assignment? Order now and Get 15% Discount! Use Code "FIRST15"