conomic and organizational sociologists have devoted increased scholarly attention to processes of institutionalization, or mechanisms by which organizational structures, policies , and practices acquire social legitimacy and ultimately become taken-for-granted as normatively appropriate in a population. From a neoinstitutional perspective, organizational… (More)
and seminar participants at Erasmus University are gratefully acknowledged. We also thank Sayyida Jaffer for expert research assistance.
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participants at MIT and Stanford University are appreciated. We also thank Ann Yoo for assistance in data collection. This study theoretically and empirically addresses the possible separation of substance and symbolism in CEO compensation contracts by examining political and institutional determinants of long-term incentive plan (LTIP) adoption and use… (More)
study offers a sociopolitical perspective on the international spread of corporate governance models. We unpack the heterogeneity of interests and preferences across and within types of shareholders and senior managers over time in an analysis of the adoption of a shareholder value orientation among contemporary German firms. Using extensive data on more… (More)
We extend research on the diffusion of corporate practices by providing a framework for studying practice variation during diffusion processes. Specifically, we theorize about how population-level mechanisms of diffusion link with organization-level mechanisms of implementation that lead to the adaptation of practices. We also identify technical, cultural,… (More)
Recent research and public discourse on executive compensation and corporate governance suggests a growing consensus that firms can and should increase their control over top managers by increasing the use of managerial incentives and monitoring by boards of directors. This study departs from this consensus by offering an alternative perspective that… (More)
We seek to deepen understanding of the micro-foundations of institutionalization while contributing to a sociological theory of markets by investigating the puzzle of price bubbles in financial markets. We find that such markets, despite textbook conditions of high efficiency -- perfect information, atomistic agents, no uncertainty -- quickly develop… (More)