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The pandemic has accelerated this crisis, collapsing the structures of industries from airlines and medicine to online retail and Our study introduces board committees as a crucial determinant of board actions. We examine how directors who structurally link different board committees—referred to as multi-committee directors MCDs —explain why some board actions are merely symbolic while others are more substantive. As a baseline, we argue that boards in general respond to financial restatements at peer firms by symbolically appointing new directors who are relatively inexperienced and unlikely to have a substantive impact.
In contrast, boards with audit—nomination MCDs are more likely to take the substantive action of appointing new directors with the prior experience necessary to reduce the risk of their own future financial restatement.
As a baseline, we argue that boards in general respond to Leadership transition in private equity firms is an understudied field, despite the important, albeit controversial, role such firms play in developed economies. We analyzed firms in an empirical study, supplemented by qualitative interviews with a small sample of highly experienced limited partners LPs and general partner GP founders and leaders who have experienced such transitions first-hand.
We analyzed firms in an empirical study, supplemented by qualitative interviews with a small sample of highly experienced limited partners LPs and general partner GP founders In early , James Quincey, the 14th chair of the year old The Coca-Cola Company, was in the midst of a years-long transformation of Coca-Cola from being the leading carbonated soft drink CSD beverage company into a total beverage company.
The company had both acquired and developed many new beverage brands. It was in the process of changing its culture to be faster moving and more willing to take risks, and a culture where the new brands meant as much to the company as did its flagship product, which was still the company's largest selling beverage. Harambe was a non-profit organization whose mission was to build an ecosystem to identify promising young African entrepreneurs and provide them access to training, markets, capital, and support networks.
There was mounting pressure for Harambe to evolve to take advantage of its momentum, the changing entrepreneurship landscape in Africa, and increasing investor interest.
In this paper, we use a field experiment conducted in partnership with a nationwide staffing platform to test policies that more directly address the reasons that employers may conduct criminal background checks. HBS Book. Strategic Management Journal 42, no. Leadership Initiative.
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