A powerful chief executive officer (CEO) can be a great asset or a substantial liability for a company. The benefits include having a single person who is accountable for a company’s success or failure, who oversees a clear line of authority and who can initiate fast strategic responses to changing business conditions. This management principle is known as ‘unity of command’. However, there are risks associated with powerful CEOs. These individuals can exploit their power, behaving opportunistically or dishonestly.
Alessandro Zattoni is a Professor of Strategy and Dean of the Department of Business and Management at LUISS University in Rome. He has been a co‐EIC of Corporate Governance: An International Review (2013–2018) and is an editorial board member of Journal of Management Studies. He published more than 100 works on corporate governance, including articles in Strategic Management Journal, Journal of Management, Journal of Management Studies, Journal of World Business, Journal of Organizational Behavior, British Journal of Management, Journal of Business Ethics, Corporate Governance: An International Review, Industrial and Corporate Change, Journal of Business Research, and International Studies of Management and Organization.
Katalin Takacs‐Haynes is an Associate Professor of Business Administration and Bancroft Research Fellow at the Lerner College of University of Delaware. Her research interests include corporate governance, chief executive officer power, executive compensation, international and cross‐cultural management, corruption, and emerging topics on the dark side of management, such as greed and entitlement. Her research has been published in Administrative Science Quarterly, Journal of Management, Journal of Management Studies, Journal of Leadership and Organization Studies, and Strategic Management Journal, among others.
Brian Boyd is a Chair Professor of Strategic Management at City University of Hong Kong. His main research interests include corporate strategy, strategy implementation, international management, and boards of directors. He is an Associate Editor at Organizational Research Methods and has served previously as an Associate Editor at Corporate Governance: An International Review. He is also a co‐editor of six special issues at various journals. He has served multiple terms on the editorial boards of Strategic Management Journal, Academy of Management Journal, Academy of Management Discoveries, Journal of Management, Journal of Management Studies, Management and Organization Review, and Organizational Research Methods.
Alessandro Minichilli is an Associate Professor at the Department of Management and Technology at Bocconi University, as well as Director of Research and Director of the Corporate Governance Lab at SDA Bocconi School of Management. Alessandro authored more than 60 international scientific publications. His works have been published in Management Science, Strategic Management Journal, Journal of Management Studies, Family Business Review, and Corporate Governance: An International Review, among several others. He takes part in the editorial board of leading international journals such as Strategic Management Journal, Strategic Entrepreneurship Journal, and Journal of Management Studies.
Corporate Governance, CEO Power, Board Oversight, Sarbanes-Oxley, Governance Mechanism
Investors, directors, top managers