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Corporate Governance, Strategy and Survival in a Declining Industry: A Study of UK Cotton Textile Companies

Filatotchev, I. and Toms, S. (2003) Corporate Governance, Strategy and Survival in a Declining Industry: A Study of UK Cotton Textile Companies. Journal of Management Studies, 40 (4). pp. 895-920. ISSN 0022-2380

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Abstract

Building on the strategic flexibility perspective, this paper examines the influences of organizational diversity, ownership structure and board characteristics on strategic responses to industrial decline in firms from the UK textile industry. Using samples of exiting and surviving companies it shows that, in line with the predictions of the strategic flexibility framework, the surviving companies tended to have a higher level of organizational diversity. They also tended to have larger institutional ownership and more diverse boards. These factors are associated with higher investment, financial performance, and growth. The results are consistent with the resource and service roles of the corporate governance factors.

Item Type: Article
Institution: The University of York
Academic Units: The University of York > The York Management School
Depositing User: York RAE Import
Date Deposited: 20 Apr 2009 13:30
Last Modified: 20 Apr 2009 13:30
Published Version: http://dx.doi.org/10.1111/1467-6486.00364
Status: Published
Publisher: Blackwell Publishing Ltd
Identification Number: 10.1111/1467-6486.00364
URI: http://eprints.whiterose.ac.uk/id/eprint/6728

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