This study examined 178 Fortune 500 firms as to the link between their corporate strategies and their reputation scores. The results suggest that while related diversified firms experienced higher performance levels, on average, than single business firms, the related diversifiers also had lower reputation scores than single business firms. Further, unrelated diversified firms experienced lower reputation scores than related diversifiers, although the mean difference between the two strategies was not statistically significant. The results suggest that firms considering a change in strategy might also anticipate a change in their overall reputations. Some possible implications of the link between a firm's strategy and reputation are discussed.

This paper summarizes the findings of an investigation of 145 business turnaround change agents (TCAs) to determine (a) the period of time expected to improve the performance of failing companies; (b) the extent of fear of job loss and resistance to change by managers in these companies; and (c) the readiness practices employed by TCAs in preparing managers for the organizational changes necessary to effect business turnarounds. These TCAs indicated that they expected to reverse a negative cash flow in 60 days and to generate a profit in an additional 150 days. Furthermore, target group members feared job loss but paradoxically resisted organizational changes. Additionally, TCAs primarily employed personal readiness interventions including involving target group members. The implications of these findings and future research directions are discussed. © 1997 John Wiley & Sons, Ltd. and Cornwallis Emmanuel Ltd.

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<p class="MsoNormal" style="text-align: justify; margin: 0in 34.2pt 0pt 0.5in;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman;">This study examined relationships between the number of female board members, board tenure, and board size on the number of 10K investigations that were instigated against<span style="mso-spacerun: yes;">&nbsp; </span>firms in the basic materials and financial services sectors of the economy.<span style="mso-spacerun: yes;">&nbsp; </span>After controlling for the effects of firm size, we found evidence of an interaction effect between the number of female directors and average board tenure for firms in the financial services sector, such that a higher number of women on boards coupled with longer average board tenure results in higher firm social performance (i.e., the fewer the number of 10K investigations brought against the firm).<span style="mso-spacerun: yes;">&nbsp; </span>No link was found between female directors and average board tenure for the basic materials firms.<span style="mso-spacerun: yes;">&nbsp; </span>Further, no interactive patterns were observed between female directors and board size in either sector.<span style="mso-spacerun: yes;">&nbsp; </span>Our findings suggest that future board research may benefit from a &ldquo;contingency approach,&rdquo; as this study has provided some evidence that the relationships between board characteristics and firm performance may not be generalizable from one sector to another.<span style="mso-spacerun: yes;">&nbsp; </span>Future research should carefully consider how the sector or industry may affect the impact of board characteristics on firm performance.</span></span></p>