{"id":24,"date":"2020-05-16T12:45:02","date_gmt":"2020-05-16T12:45:02","guid":{"rendered":"https:\/\/conferences.euram.academy\/sparks\/?p=24"},"modified":"2020-05-28T16:45:52","modified_gmt":"2020-05-28T16:45:52","slug":"the-moderating-role-of-board-oversight-and-the-sarbanes-oxley-act-on-powerful-ceos","status":"publish","type":"post","link":"https:\/\/conferences.euram.academy\/sparks\/the-moderating-role-of-board-oversight-and-the-sarbanes-oxley-act-on-powerful-ceos\/","title":{"rendered":"The moderating role of board oversight and the Sarbanes\u2013Oxley Act on powerful CEOs"},"content":{"rendered":"<div id='sub_menu1'  class='av-submenu-container av-2kqis-c5875fb11d89e5b4ef5190097a91ac11 footer_color  avia-builder-el-0  el_before_av_one_full  avia-builder-el-first  container_wrap fullsize' style='z-index:301' ><div class='container av-menu-mobile-disabled av-submenu-pos-center'><ul id=\"menu-sigs\" class=\"av-subnav-menu\" role=\"menu\"><li role=\"menuitem\" id=\"menu-item-96\" 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class='flex_column av-2u5kc-f53fbd92b8004e947e103429e7215e2e av_one_full  avia-builder-el-1  el_after_av_submenu  el_before_av_hr  avia-builder-el-first  first flex_column_div av-zero-column-padding  '     ><style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-kar0e460-9b2d90cc5ff89bf7ef93a16be6271192\">\n#top .av-special-heading.av-kar0e460-9b2d90cc5ff89bf7ef93a16be6271192{\npadding-bottom:30px;\n}\nbody .av-special-heading.av-kar0e460-9b2d90cc5ff89bf7ef93a16be6271192 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-kar0e460-9b2d90cc5ff89bf7ef93a16be6271192 .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-kar0e460-9b2d90cc5ff89bf7ef93a16be6271192 av-special-heading-h2 blockquote modern-quote  avia-builder-el-2  avia-builder-el-no-sibling '><h2 class='av-special-heading-tag '  itemprop=\"headline\"  >The moderating role of board oversight and the Sarbanes\u2013Oxley Act on powerful CEOs<\/h2><div class='av-subheading av-subheading_below'><p>S001 2020<\/p>\n<\/div><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-2yt4-49319b8a518c6b8ea2c646a9b99002ca\">\n#top .hr.hr-invisible.av-2yt4-49319b8a518c6b8ea2c646a9b99002ca{\nheight:20px;\n}\n<\/style>\n<div  class='hr av-2yt4-49319b8a518c6b8ea2c646a9b99002ca hr-invisible  avia-builder-el-3  el_after_av_one_full  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><\/p>\n<section  class='av_textblock_section av-kaaw84kf-a11eea8b0976cd9664321df796a76236 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><div class='w3eden'><!-- WPDM Link Template: Default Template -->\n\n<div class=\"link-template-default card mb-2\">\n    <div class=\"card-body\">\n        <div class=\"media\">\n            <div class=\"mr-3 img-48\"><img decoding=\"async\" class=\"wpdm_icon\" alt=\"Icon\" src=\"https:\/\/conferences.euram.academy\/sparks\/wp-content\/plugins\/download-manager\/assets\/file-type-icons\/pdf.svg\" \/><\/div>\n            <div class=\"media-body\">\n                <h3 class=\"package-title\"><a href='https:\/\/conferences.euram.academy\/sparks\/download\/001_2020-the-moderating-role-of-board-oversight-and-the-sarbanes-oxley-act-on-powerful-ceos\/'>001_2020 The moderating role of board oversight and the Sarbanes\u2013Oxley Act on powerful CEOs<\/a><\/h3>\n                <div class=\"text-muted text-small\"><i class=\"fas fa-copy\"><\/i> 1 file(s) <i class=\"fas fa-hdd ml-3\"><\/i> 517.46 KB<\/div>\n            <\/div>\n            <div class=\"ml-3\">\n                <a class='wpdm-download-link download-on-click btn btn-primary ' rel='nofollow' href='#' data-downloadurl=\"https:\/\/conferences.euram.academy\/sparks\/download\/001_2020-the-moderating-role-of-board-oversight-and-the-sarbanes-oxley-act-on-powerful-ceos\/?wpdmdl=48&refresh=69d3d3e4ab4b61775490020\">Download<\/a>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n<\/div>\n<\/div><\/section>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-2yt4-49319b8a518c6b8ea2c646a9b99002ca\">\n#top .hr.hr-invisible.av-2yt4-49319b8a518c6b8ea2c646a9b99002ca{\nheight:20px;\n}\n<\/style>\n<div  class='hr av-2yt4-49319b8a518c6b8ea2c646a9b99002ca hr-invisible  avia-builder-el-5  el_after_av_textblock  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<section  class='av_textblock_section av-ka9o46pw-adf74fb05657e48fbf6c065e259915d2 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p style=\"text-align: justify\"><strong>The problem<\/strong><\/p>\n<p style=\"text-align: justify\">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\u2019s 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 \u2018unity of command\u2019. However, there are risks associated with powerful CEOs. These individuals can exploit their power, behaving opportunistically or dishonestly.<\/p>\n<p style=\"text-align: justify\"><div id=\"links-link-24\" class=\"sh-link links-link sh-hide\"><a href=\"#\" onclick=\"showhide_toggle('links', 24, 'Read More', 'Read Less '); return false;\" aria-expanded=\"false\"><span id=\"links-toggle-24\">Read More<\/span><\/a><\/div><div id=\"links-content-24\" class=\"sh-content links-content sh-hide\" style=\"display: none;\"><\/p>\n<p style=\"text-align: justify\">They may be resistant to change within the business, or hold on to their position to the detriment of the company. They may simply have a poor work ethic. Previous studies on the effect of CEO power on company performance show mixed results, with a predominantly negative relationship. Our study argues that the relationship between CEO power and company performance can be better understood by analysing the moderating role of two contingency factors \u2013 the oversight of the company board and the effect of the Sarbanes\u2013Oxley Act (SOX) of 2002.<\/p>\n<p style=\"text-align: justify\"><strong>\u00a0<\/strong><\/p>\n<p style=\"text-align: justify\"><strong>Our results<\/strong><\/p>\n<p style=\"text-align: justify\">Our research results indicate that the negative effect of powerful CEOs on firm performance is mitigated by the oversight of a board. In addition, they underline that the passing of SOX \u2013 a United States federal law that established new auditing and financial regulations for public companies \u2013 has reduced the negative effect of CEO power and amplified the positive effect of board oversight.<\/p>\n<p style=\"text-align: justify\">As such, our study highlights to investors and company directors that corporate boards should be designed to take into account the power of individual CEOs. In addition, our results suggest to policymakers that tight regulations can be an effective deterrent to bad behaviour by CEOs and be closely aligned with the interests of the company.<\/p>\n<p style=\"text-align: justify\">In the past, many scholars and practitioners have seen the optimal design of corporate boards as \u2018box-ticking\u2019. We argue that board design, in fact, plays a key role in the success of the company, and this may be more pronounced in the post-SOX period. Having an appropriately sized board and including directors who are also shareholders may support the board\u2019s effective monitoring of powerful CEOs and the company\u2019s overall performance.<\/p>\n<p style=\"text-align: justify\">Our research also examined the effect of having external director-CEOs on the board. While there are some potentially negative effects (e.g. closed friendship circles or cliques forming), positive effects include strengthening the board with highly competent and experienced individuals. It can also foster a sense of shared responsibility for the company\u2019s success. These positive effects are stronger in the post-SOX period and are still highly relevant to businesses today.<\/p>\n<p style=\"text-align: justify\">Interestingly, our results also underline that corporate governance practices, and board oversight in particular, do not always have positive implications for company performance. This suggests that corporate boards should be designed in relation to the power of CEOs. In other words, when CEOs are powerful, high levels of board oversight can balance their power and its potentially negative consequences on company performance. However, when CEOs are less powerful, high levels of board oversight can undermine company performance. This is particularly true when there is an emphasis on controls, as in the post-SOX setting. Anecdotal evidence seems to support this conclusion. Many CEOs question what they see as the zero-trust and zero-tolerance environment after SOX, and underline the risks of a shift of power from company CEOs and executive directors to non-executive directors. In this way, our study also provides guidance for policymakers, suggesting that tight regulations can be an effective deterrent to bad behaviour by CEOs and be closely aligned with the interests of the company\u2019s owners. In summary, our findings provide support for a contingency perspective on corporate governance, under which governance mechanisms should be designed, taking into account both the firm and institutional context.<\/p>\n<p style=\"text-align: justify\"><strong>Our research methods<\/strong><\/p>\n<p style=\"text-align: justify\">We hand-collected data on both CEOs and boards of directors for S&amp;P 500 US firms in the period 2000-2006 (three years before and four years after SOX). We measured company performance with return on assets (ROA). Following Finkelstein\u2019s model of CEO power (1992), we measured CEO power through a composite index. We measured board oversight using three board attributes: size, the presence of director-shareholders, and the presence of director-CEOs from other companies. We introduced controls for company size, age, past performance, length of CEO tenure and the percentage of directors from outside the company. To test our hypotheses, we employed the fixed-effects model for panel data methodology.<\/p>\n<p style=\"text-align: justify\"><strong>Limitations of our study<\/strong><\/p>\n<p style=\"text-align: justify\">Our study has some limitations. First, our analysis is biased towards large US firms. This limits the applicability of our results to other companies (e.g. those with concentrated ownership) and to other countries (e.g. where corporate law and regulations may be very different). In addition, we used well-established proxy variables (i.e. a proxy used in place of a variable that is hard to observe or measure) to explore complex constructs, such as the interaction among directors and CEOs. Furthermore, while our study shows the impact of SOX in the short-term, our results cannot be easily extended to capture its long-term effects.<\/p>\n<p><\/div><\/p>\n<\/div><\/section>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2\">\n#top .hr.hr-invisible.av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2{\nheight:50px;\n}\n<\/style>\n<div  class='hr av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2 hr-invisible  avia-builder-el-7  el_after_av_textblock  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<section  class='av_textblock_section av-ka9mbry4-78ba42ffc732efbaf101229ac35b0daf '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><h4>Authors<\/h4>\n<\/div><\/section>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-4wyp4-fbf7983189376720c1faca6158eec927\">\n.flex_column.av-4wyp4-fbf7983189376720c1faca6158eec927{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-4wyp4-fbf7983189376720c1faca6158eec927 av_one_fourth  avia-builder-el-9  el_after_av_textblock  el_before_av_one_fourth  first flex_column_div av-zero-column-padding  column-top-margin'     ><section  class='avia-team-member av-ka9mf3q5-6050f089c1becbd64e2a2a070844c99a  avia-builder-el-10  avia-builder-el-no-sibling '  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/Person\" ><div class=\"team-img-container\"><img decoding=\"async\" fetchpriority=\"high\" class='wp-image-25 avia-img-lazy-loading-not-25 avia_image avia_image_team av-team-img-original' src=\"https:\/\/conferences.euram.academy\/sparks\/wp-content\/uploads\/sites\/6\/2020\/05\/azattoni.jpg\" alt='Alessandro Zattoni'  itemprop=\"image\"   height=\"270\" width=\"210\" \/><div class=\"team-social\"><div class=\"team-social-inner\"><span class='hidden av_member_url_markup '  itemprop=\"email\" >mailto:azattoni@luiss.it<\/span><a href='mailto:azattoni@luiss.it' class='avia-team-icon av-4lh70-31e0c8bc75e55b05999b29424fc6d574 avia-iconfont avia-font-entypo-fontello' rel='v:url'  target='_blank' data-av_icon='\ue805' data-av_iconfont='entypo-fontello' ><\/a><\/div><\/div><\/div><h3 class='team-member-name '  itemprop=\"name\" >Alessandro Zattoni<\/h3><div class='team-member-description '  itemprop=\"description\" ><p>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\u2010EIC of Corporate Governance: An International Review (2013\u20132018) 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.<\/p>\n<\/div><span class='hidden team-member-affiliation'  itemprop=\"affiliation\" >EURAM Sparks<\/span><\/section><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-3od54-eea5f7bc8c95af367c96a03411a65895\">\n.flex_column.av-3od54-eea5f7bc8c95af367c96a03411a65895{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-3od54-eea5f7bc8c95af367c96a03411a65895 av_one_fourth  avia-builder-el-11  el_after_av_one_fourth  el_before_av_one_fourth  flex_column_div av-zero-column-padding  column-top-margin'     ><section  class='avia-team-member av-ka9mf3q5-84b5cff5897c94490a7bd45bcac21f32  avia-builder-el-12  avia-builder-el-no-sibling '  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/Person\" ><div class=\"team-img-container\"><img decoding=\"async\" fetchpriority=\"high\" class='wp-image-26 avia-img-lazy-loading-not-26 avia_image avia_image_team av-team-img-original' src=\"https:\/\/conferences.euram.academy\/sparks\/wp-content\/uploads\/sites\/6\/2020\/05\/tackashaynekati04web.jpg\" alt='Katalin Takacs-Haynes'  itemprop=\"image\"   height=\"270\" width=\"210\" \/><div class=\"team-social\"><div class=\"team-social-inner\"><span class='hidden av_member_url_markup '  itemprop=\"email\" >mailto:ktakacsh@udel.edu<\/span><a href='mailto:ktakacsh@udel.edu' class='avia-team-icon av-31hdk-5857a410878420ff78c311642d8cdc21 avia-iconfont avia-font-entypo-fontello' rel='v:url'  target='_blank' data-av_icon='\ue805' data-av_iconfont='entypo-fontello' ><\/a><\/div><\/div><\/div><h3 class='team-member-name '  itemprop=\"name\" >Katalin Takacs-Haynes<\/h3><div class='team-member-description '  itemprop=\"description\" ><p>Katalin Takacs\u2010Haynes 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\u2010cultural 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.<\/p>\n<\/div><span class='hidden team-member-affiliation'  itemprop=\"affiliation\" >EURAM Sparks<\/span><\/section><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-2ww94-b42980fb1b42f647d2a89e48d405d6b0\">\n.flex_column.av-2ww94-b42980fb1b42f647d2a89e48d405d6b0{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-2ww94-b42980fb1b42f647d2a89e48d405d6b0 av_one_fourth  avia-builder-el-13  el_after_av_one_fourth  el_before_av_one_fourth  flex_column_div av-zero-column-padding  column-top-margin'     ><section  class='avia-team-member av-ka9mf3q5-72d35afb22c1b1424582f7a21decf8ff  avia-builder-el-14  avia-builder-el-no-sibling '  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/Person\" ><div class=\"team-img-container\"><img decoding=\"async\" fetchpriority=\"high\" class='wp-image-28 avia-img-lazy-loading-not-28 avia_image avia_image_team av-team-img-original' src=\"https:\/\/conferences.euram.academy\/sparks\/wp-content\/uploads\/sites\/6\/2020\/05\/bkboyd.jpg\" alt='Brian Boyd'  itemprop=\"image\"   height=\"270\" width=\"210\" \/><div class=\"team-social\"><div class=\"team-social-inner\"><span class='hidden av_member_url_markup '  itemprop=\"email\" >mailto:bkboyd@cityu.edu.hk<\/span><a href='mailto:bkboyd@cityu.edu.hk' class='avia-team-icon av-2500c-11b0c5cdfdafd14a9a28fc8e6101fde8 avia-iconfont avia-font-entypo-fontello' rel='v:url'  target='_blank' data-av_icon='\ue805' data-av_iconfont='entypo-fontello' ><\/a><\/div><\/div><\/div><h3 class='team-member-name '  itemprop=\"name\" >Brian Boyd<\/h3><div class='team-member-description '  itemprop=\"description\" ><p>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\u2010editor 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.<\/p>\n<\/div><span class='hidden team-member-affiliation'  itemprop=\"affiliation\" >EURAM Sparks<\/span><\/section><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-6ckg-2324adc0162a6dbe3285efe86913bbba\">\n.flex_column.av-6ckg-2324adc0162a6dbe3285efe86913bbba{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-6ckg-2324adc0162a6dbe3285efe86913bbba av_one_fourth  avia-builder-el-15  el_after_av_one_fourth  el_before_av_hr  flex_column_div av-zero-column-padding  column-top-margin'     ><section  class='avia-team-member av-ka9mf3q5-5f749a4ef7690d4f713c47b01b82b6fd  avia-builder-el-16  avia-builder-el-no-sibling '  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/Person\" ><div class=\"team-img-container\"><img decoding=\"async\" fetchpriority=\"high\" class='wp-image-27 avia-img-lazy-loading-not-27 avia_image avia_image_team av-team-img-original' src=\"https:\/\/conferences.euram.academy\/sparks\/wp-content\/uploads\/sites\/6\/2020\/05\/alessandrominichillicv.jpg\" alt='Alessandro Minichilli'  itemprop=\"image\"   height=\"270\" width=\"210\" \/><div class=\"team-social\"><div class=\"team-social-inner\"><span class='hidden av_member_url_markup '  itemprop=\"email\" >mailto:alessandro.minichilli@unibocconi.it<\/span><a href='mailto:alessandro.minichilli@unibocconi.it' class='avia-team-icon av-u4cs-ba8a25c1a9cb63feec20adb0a5392fa5 avia-iconfont avia-font-entypo-fontello' rel='v:url'  target='_blank' data-av_icon='\ue805' data-av_iconfont='entypo-fontello' ><\/a><\/div><\/div><\/div><h3 class='team-member-name '  itemprop=\"name\" >Alessandro Minichilli<\/h3><div class='team-member-description '  itemprop=\"description\" ><p>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.<\/p>\n<\/div><span class='hidden team-member-affiliation'  itemprop=\"affiliation\" >EURAM Sparks<\/span><\/section><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2\">\n#top .hr.hr-invisible.av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2{\nheight:50px;\n}\n<\/style>\n<div  class='hr av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2 hr-invisible  avia-builder-el-17  el_after_av_one_fourth  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<section  class='av_textblock_section av-ka9mbry4-78ba42ffc732efbaf101229ac35b0daf '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><h4>Keywords<\/h4>\n<p>Corporate Governance, CEO Power, Board Oversight, Sarbanes-Oxley, Governance Mechanism<\/p>\n<\/div><\/section>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2\">\n#top .hr.hr-invisible.av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2{\nheight:50px;\n}\n<\/style>\n<div  class='hr av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2 hr-invisible  avia-builder-el-19  el_after_av_textblock  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<section  class='av_textblock_section av-ka9mbry4-78ba42ffc732efbaf101229ac35b0daf '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><h4>Target Audience<\/h4>\n<p>Investors, directors, top managers<\/p>\n<\/div><\/section>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2\">\n#top .hr.hr-invisible.av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2{\nheight:50px;\n}\n<\/style>\n<div  class='hr av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2 hr-invisible  avia-builder-el-21  el_after_av_textblock  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<section  class='av_textblock_section av-ka9mbry4-78ba42ffc732efbaf101229ac35b0daf '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><h4><strong>Industries Researched<\/strong><\/h4>\n<p>S&amp;P 500<\/p>\n<\/div><\/section>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2\">\n#top .hr.hr-invisible.av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2{\nheight:50px;\n}\n<\/style>\n<div  class='hr av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2 hr-invisible  avia-builder-el-23  el_after_av_textblock  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<section  class='av_textblock_section av-ka9mbry4-78ba42ffc732efbaf101229ac35b0daf '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><h4>Links<\/h4>\n<p><a href=\"https:\/\/onlinelibrary.wiley.com\/doi\/10.1111\/corg.12293\" target=\"_blank\" rel=\"noopener noreferrer\">https:\/\/onlinelibrary.wiley.com\/doi\/10.1111\/corg.12293<\/a><\/p>\n<\/div><\/section>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2\">\n#top .hr.hr-invisible.av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2{\nheight:50px;\n}\n<\/style>\n<div  class='hr av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2 hr-invisible  avia-builder-el-25  el_after_av_textblock  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<section  class='av_textblock_section av-ka9mbry4-78ba42ffc732efbaf101229ac35b0daf '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><h4><strong>First Publication<\/strong><\/h4>\n<p>2019<\/p>\n<\/div><\/section>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2\">\n#top .hr.hr-invisible.av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2{\nheight:50px;\n}\n<\/style>\n<div  class='hr av-ka9mmb9y-c68fc0001e2708f64b14aa7fa7f48ed2 hr-invisible  avia-builder-el-27  el_after_av_textblock  el_before_av_social_share '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<div  class='av-social-sharing-box av-p10s-30bc66efbd55c2436bcff134bb76a9ae av-social-sharing-box-default  avia-builder-el-28  el_after_av_hr  avia-builder-el-last  av-social-sharing-box-fullwidth'><div class=\"av-share-box\"><h5 class='av-share-link-description av-no-toc '>Share this entry<\/h5><ul class=\"av-share-box-list noLightbox\"><li class='av-share-link av-social-link-facebook avia_social_iconfont' ><a target=\"_blank\" aria-label=\"Share on Facebook\" href='https:\/\/www.facebook.com\/sharer.php?u=https:\/\/conferences.euram.academy\/sparks\/the-moderating-role-of-board-oversight-and-the-sarbanes-oxley-act-on-powerful-ceos\/&#038;t=The%20moderating%20role%20of%20board%20oversight%20and%20the%20Sarbanes%E2%80%93Oxley%20Act%20on%20powerful%20CEOs' data-av_icon='\ue8f3' data-av_iconfont='entypo-fontello'  title='' data-avia-related-tooltip='Share on Facebook'><span class='avia_hidden_link_text'>Share on Facebook<\/span><\/a><\/li><li class='av-share-link av-social-link-twitter avia_social_iconfont' ><a target=\"_blank\" aria-label=\"Share on X\" 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Mail<\/span><\/a><\/li><\/ul><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":44,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[5,4,3,7,6],"class_list":["post-24","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sig02-corporate-governance","tag-board-oversight","tag-ceo-power","tag-corporate-governance","tag-governance-mechanism","tag-sarbanes-oxley"],"_links":{"self":[{"href":"https:\/\/conferences.euram.academy\/sparks\/wp-json\/wp\/v2\/posts\/24","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/conferences.euram.academy\/sparks\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/conferences.euram.academy\/sparks\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/conferences.euram.academy\/sparks\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/conferences.euram.academy\/sparks\/wp-json\/wp\/v2\/comments?post=24"}],"version-history":[{"count":32,"href":"https:\/\/conferences.euram.academy\/sparks\/wp-json\/wp\/v2\/posts\/24\/revisions"}],"predecessor-version":[{"id":153,"href":"https:\/\/conferences.euram.academy\/sparks\/wp-json\/wp\/v2\/posts\/24\/revisions\/153"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/conferences.euram.academy\/sparks\/wp-json\/wp\/v2\/media\/44"}],"wp:attachment":[{"href":"https:\/\/conferences.euram.academy\/sparks\/wp-json\/wp\/v2\/media?parent=24"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/conferences.euram.academy\/sparks\/wp-json\/wp\/v2\/categories?post=24"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/conferences.euram.academy\/sparks\/wp-json\/wp\/v2\/tags?post=24"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}