Understanding and Managing Strategic Governance. Wei Shi

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      WEI SHI

      ROBERT E. HOSKISSON

      Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

      Published simultaneously in Canada.

      No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 750-4470, or on the web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permission.

      Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.

      For general information on our other products and services or for technical support, please contact our Customer Care Department within the United States at (800) 762-2974, outside the United States at (317) 572-3993 or fax (317) 572-4002.

      Wiley also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic formats. For more information about Wiley products, visit our website at www.wiley.com.

       Library of Congress Cataloging-in-Publication Data is Available:

      Names: Shi, Wei, 1981- author. | Hoskisson, Robert E., 1948-author.

      Title: Understanding and managing strategic governance / Wei Shi, Robert Edwin Hoskisson.

      Description: First edition. | Hoboken, New Jersey : Wiley, 2021. | Includes index.

      Identifiers: LCCN 2021022872 (print) | LCCN 2021022873 (ebook) | ISBN 9781119798255 (cloth) | ISBN 9781119798309 (adobe pdf) | ISBN 9781119798286 (epub)

      Subjects: LCSH: Corporate governance. | Decision making. | Strategic planning. | Information technology—Management.

      Classification: LCC HD2741 .S4985 2021 (print) | LCC HD2741 (ebook) | DDC 658.4—dc23

      LC record available at https://lccn.loc.gov/2021022872

      LC ebook record available at https://lccn.loc.gov/2021022873

      Cover Design: Wiley

      Cover Image: © Sergey Mironov\shutterstock

      The book is dedicated to our parents, Xiangsheng Shi, Shimei Hui, Claude W. Hoskisson, and Carol B. Hoskisson, for their constant love and support.

      Corporate executives are responsible for making a myriad of strategic decisions that shape a firm's competitiveness and performance. Yet, executives' strategic choices are constrained by governance actors, such as the board of directors or institutional investors, who can directly or indirectly influence corporate decisions. Although much has been written about corporate governance, there is no systematic analysis of how governance actors can influence strategic decisions. A company's strategic decisions such as R&D investment

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