INTERNATIONALIZATION AND FIRM GOVERNANCE - THE ROLES OF CEO COMPENSATION, TOP TEAM COMPOSITION, AND BOARD STRUCTURE

Using the complementary lenses of information-processing and agency th eories, this study tests the proposition that the complexity resulting from a firm's degree of internationalization will be accommodated by its governance structure. Results from a sample of large U.S. firms su pport this perspective, suggesting that firms manage and cope with the information-processing demands and agency issues arising from interna tionalization through higher, longer-term CEO pay, larger top manageme nt teams, and the separation of chairperson and CEO positions.