Research Question/Issue
In this comprehensive literature review, we synthesize and analyze the current state of academic research regarding the relatively understudied relationship between the type of owners and board governance.
Research Findings/Insights
Our review of the existing literature at the intersection of ownership and board governance research discusses how six distinct ownership types—pertaining to family, lone founder, corporation, institutional investor, state, and venture capitalist—shape board governance, defined as board structure, composition, and processes. We also uncover the influence of ownership type on board functional performance (i.e., monitoring, resource provision, and strategic involvement) and the implications of these owner–board relationships for a variety of firm outcomes (related to performance and compliance).
Theoretical/Academic Implications
We present identifiable patterns in board governance and functional performance associated with each ownership type and their respective implications for a wide range of firm outcomes. We then propose seven core emerging themes that deserve further scholarly attention.
Practitioner/Policy Implications
Our analysis cautions against the application of the “one‐size‐fits‐all” best‐practices approach in board governance advocated by policy makers, scholars, and corporate governance activists and underscores the need to consider the contingent effects of different owners' behaviors and interests in shaping and assessing board governance.
Since the onset of the Great Recession, "doing more with less" has become a policy mantra. To do more with less, a range of governments have concurrently imposed wage cuts and greater work demands on public employees. This article assesses the impact of these changes on the job satisfaction and work motivation of public employees in 34 European countries. Congruent with previous studies linking income and working hours with job attitudes, the article finds a negative impact on both. There are no free austerity lunches: while public employees may work longer hours for lower pay, they are less satisfied and less motivated when doing so. One caveat applies: the effect on motivation-although not satisfaction-is mitigated when employees feel that their values are aligned with those of their organization. This puts a premium on public managers fostering value alignment, particularly when it is hardest to achieve: in times of cutbacks.
Practitioner Points• Pay cuts and enhanced workloads have a significant negative effect on job satisfaction and motivation across public sectors. • If employees perceive that their personal values are aligned with their jobs, the effects of negative working conditions on motivation are attenuated. • Public sector leaders should put a premium on measures to strengthen value alignment, particularly when it is arguably hardest to achieve: in times of cutbacks.
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