Watchdog or lapdog? A behavioral view of the media as a corporate governance mechanism

Research output: Contribution to journalReview article

Abstract

This study begins to provide a behavioral view of the media and corporate governance by showing how firms enact largely symbolic governance changes with respect to board independence that essentially protect managerial interests, yet still elicit positive responses from the media. I show why this media response is important for firm leaders by examining how more favorable media coverage may affect CEO job security, executive compensation, and board composition. To the extent that largely symbolic actions affect media coverage, this study raises questions about the effectiveness of the media as a governance control mechanism.

Original languageEnglish (US)
Pages (from-to)131-150
Number of pages20
JournalAcademy of Management Journal
Volume55
Issue number1
DOIs
StatePublished - Feb 1 2012

ASJC Scopus subject areas

  • Business and International Management
  • Business, Management and Accounting(all)
  • Strategy and Management
  • Management of Technology and Innovation

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