Corporate Governance

With a merger and acquisition wave in full swing in the 1980s, I began to shift my focus from cognition to governance. I became interested in what might be called managerial misbehavior. My work on corporate governance was broadly defined by a quest to understand if managers’ self-dealing was responsible for problematic firm performance.

Lee, L. F. and Walsh, J. P. (2014) Moneymaking dealmakers: Rewarding dynamic managerial capabilities or narcissistic displays of power? (PDF) Working paper.

Walsh, J.P. (2009). Are U.S. CEOs overpaid? A partial response to Kaplan. (PDF) Academy of Management Perspectives, 23: 73-75.

Walsh, J.P. (2008). CEO compensation and the responsibilities of the business scholar to society. (PDF) Academy of Management Perspectives, 22: 26-33.

Bradley, M., Schipani, C.A., Sundaram, A.K. and Walsh, J.P. (1999). The purposes and accountability of the corporation in contemporary society: Corporate governance at a crossroads. (PDF) Law and Contemporary Problems, 62(3): 9–86.

Logue, D.E., Seward, J.K. and Walsh, J.P. (1996). Rearranging residual claims: A case for targeted stock. (PDF) Financial Management, 25(1): 43-61.

Seward, J.K. and Walsh, J.P. (1996). The governance and control of voluntary corporate spin-offs. (PDF) Strategic Management Journal, 17(1): 25-39.

Seward, J.K. and Walsh, J.P. (1994). The acquisition of restructured firms: An illustration of market discipline? (PDF) Journal of Economics and Management Strategy, 3(4): 585-603.

Walsh, J.P. and Kosnik, R.D. (1993). Corporate raiders and their disciplinary role in the market for corporate control. (PDF) Academy of Management Journal, 36(4): 671-700.

Walsh, J.P. and Ellwood, J.W. (1991). Mergers, acquisitions, and the pruning of managerial deadwood. (PDF) Strategic Management Journal, 12 (3): 201-217.

Walsh, J.P. and Seward, J.K. (1990). On the efficiency of internal and external corporate control mechanisms. (PDF) Academy of Management Review, 15 (3): 421-458.

Walsh, J.P. (1989). Doing a deal: Merger and acquisition negotiations and their impact upon target company top management turnover. (PDF) Strategic Management Journal, 10 (4): 307-322.

Walsh, J.P. (1988). Top management turnover following mergers and acquisitions. (PDF) Strategic Management Journal, 9 (2): 173-183.

RESEARCH

Managerial and Organizational Cognition

My work on managerial and organizational cognition was broadly motivated by a desire to understand how managerial mistakes, mistakes born of cognitive limitations, might undermine organizational performance.

Walsh, J.P. (1995). Managerial and organizational cognition: Notes from a trip down memory lane. (PDF) Organization Science, 6(3): 280-321.

Walsh, J.P. and Ungson, G.R. (1991). Organizational memory. (PDF) Academy of Management Review, 16(1): 57-91.

Walsh, J.P. (1988). Selectivity and selective perception: An investigation of managers' belief structures and information processing. (PDF) Academy of Management Journal, 31(4): 873-896.

Walsh, J.P., Henderson, C.M. and Deighton, J. (1988). Negotiated belief structures and decision performance: An empirical investigation. (PDF) Organizational Behavior and Human Decision Processes, 42(2): 194-216.

Walsh, J.P. and Fahey, L. (1986). The role of negotiated belief structures in strategy making. (PDF) Journal of Management, 12(3): 325-338.

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E: jpwalsh@umich.edu
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The State of Our Profession

This should be the Golden Age both for management scholarship and for business schools. Nevertheless, our world is troubled. Not seeing the audit culture that surrounds us for what it is (a reflection of society’s deep interest in our work), we mistakenly reproduce that culture inside our universities. Instead of doing our research and teaching in a way that prepares students to honorably lead organizations that serve society, we worry excessively about the rating and ranking of our research output and our schools.

Walsh, J.P. (2012). Review of The Roots, Rituals, and Rhetorics of Change: American Business Schools after the Second World War by Mie Augier and James G. March. (PDF)

Walsh, J. P. (2011). Embracing the sacred in our secular scholarly world. (PDF) Academy of Management Review, 36(2): 215-234.

Walsh, J.P., Tushman, M. L., Kimberly, J.R., Starbuck, B. and Ashford, S. (2007). On the relationship between research and practice: Debate and reflections. (PDF) Journal of Management Inquiry, 16(2): 128-154

Walsh, J.P. and Weber, K. (2002). The prospects for critical management theory in the American Academy of Management. (PDF) Organization, 9 (3): 402-410.

 

Academy of Management Annals

Realizing that there were few research reviews in our world, Art Brief and I worked to create the Academy of Management Annals. We wanted to provide a home for accomplished scholars to first compile and then take stock of a body of work in their research areas. Wanting more than just annotated bibliographies, we asked our colleagues to write “a review with an attitude.” Here are the papers we published between 2007 and 2011. (PDF)

All of these papers — and the ones that followed in subsequent years — are free to Academy of Management members. Download any paper by logging on to the AOM website and finding your way to the Annals’ webpage: http://www.aomonline.org/

 

Corporation in Society

My research on both managerial cognition and corporate governance is premised on the idea that society is well-served by prosperous firms. Directly questioning that assumption, this work examines whether and how firms benefit society.

Donaldson, T. and Walsh, J.P. (2015). Toward a theory of business. (PDF) Research in Organizational Behavior, 35: 181-207.

Walsh, J.P. (2015) Organization and management scholarship in and for Africa...and the world. (PDF)) Academy of Management Perspectives, 29(1): 1-6.

Walsh, J.P. (2015) Freedom, responsibility, and keeping [our] hope alive. (PDF)) In Subramanian Rangan, Ed., Performance and Progress, pp. 134-150. Oxford, England: Oxford University Press.

Walsh, J.P., Meyer, A.D. and Schoonhoven, C.B. (2006). A future for organization theory: Living in and living with changing organizations. (PDF) Organization Science, 17(5): 57-671.

Walsh, J.P., Kress, J.C. and Beyerchen, K.W. (2005). Book review essay: Promises and perils at the bottom of the pyramid. (PDF) Administrative Science Quarterly, 50(3): 473-482.

Walsh, J.P. (2005). Book review essay: Taking stock of stakeholder management. (PDF) Academy of Management Review, 30(2): 426-438.

Margolis, J.D. and Walsh, J.P. (2003). Misery loves companies: Rethinking social initiatives by business. (PDF) Administrative Science Quarterly, 48: 265-305.

Walsh, J.P., Weber, K. and Margolis, J.D. (2003). Social issues and management: Our lost cause found. (PDF) Journal of Management, 29(6): 859-881.

Walsh, J.P. (2003). Review of Worked Over: The Corporate Sabotage of an American Community by Dimitra Doukas. (PDF) Administrative Science Quarterly, 48(3): 513-517.

Margolis, J.D. and Walsh, J.P. (2001). People and Profits? The Search for a Link between a Company’s Social and Financial Performance. Mahwah, NJ: Lawrence Erlbaum and Associates.

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