Integration of Micro and Macro Studies in Governance Research: CEO Duality, Board Composition, and Financial Performance
以CEO二元性和董事会构成为例，指出尽管大量实证研究关注这些治理要素，但几乎没有证据表明它们与公司财务绩效相关，并建议采用多层次分析方法来解决这一问题。
The authors provide two examples of contemporary and contentious issues related to the governance of publicly traded corporations—the composition of boards of directors and the choice of CEO or board chairperson leadership structures. In each case, despite voluminous empirical attention, there is virtually no evidence related to the financial performance of the firm with regard to either of these fundamental elements of firms’ governance structures. The authors suggest that these null results may be related to the inadequacy of analyses relied on to examine such issues, an inadequacy that might be constructively addressed by more attention to multi-level alternatives.