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The purpose of this study is to explore alternative models of substitutes for leadership. These alternative models are a leadership-only model, substitutes for the leadership-only model and substitutes for the leadership-mediated-effects model.

Four occupational groups were targeted, namely, PhD faculty of institutions of higher education, medical doctors who work in district headquarters’ hospitals, licensed pharmacists and certified engineers. Also, a self-administered questionnaire was used to collect data, and 523 usable responses were received.

Partial least square path modeling was used for data analysis, and the results of structural models revealed that: the dimensions of transformational leadership significantly affected the followers’ outcomes; a few substitutes for leadership also significantly affected the followers’ outcomes; and, in some cases, substitutes for leadership significantly mediated the relationship between dimensions of transformational leadership and followers’ outcomes.

Findings of the study provide useful implications to improve the managerial practices of organizational leaders, work design strategies in organizations and overall organizational policies for effective functioning. Other developing countries with similar socio-economic status may use these findings to improve organizational functioning.

This study makes important contributions to the leadership literature. It tests three alternative models in the domain of substitutes for the leadership theory and tests the separate effects of dimensions of transformational leadership and substitutes for leadership on followers’ work outcomes. Further, it specifies the mediating effects of substitutes for leadership on the dimensions of transformational leadership and followers’ work outcomes. Most important, this study for the first time tests transformational leadership and substitutes for leadership concepts in Pakistani work settings and advances the theoretical and empirical literature in this local context.

This paper aims to examine the direct and indirect effects of substitutes for leadership on performance outcomes.

A self‐report questionnaire was distributed to a sample of 177 Australian local council employees. The responses were analysed using ICLUST analysis and hierarchical multiple regression analysis.

The results indicated significant positive effects of some substitutes for leadership on performance outcomes. Furthermore, some substitutes for leadership moderated the effects of transactional leadership behaviours on performance outcomes, whereas another sub‐component of substitutes for leadership moderated the effects of social processes of leadership on performance outcomes. In addition, some substitutes for leadership partially mediated the relationship between transformational leadership and performance outcomes.

The cross‐sectional design of the study reduces the capacity to draw definitive causal inferences.

The current study supports the view that council leaders could have influenced the employees' attitudes, perceptions, and performance by indirectly shaping the environment in which the subordinates worked (i.e. shaping task and organisational characteristics). The study implies the need for leaders in the local councils to understand those substitutes for leadership that mediate the influence of transformational leadership (such as group and work design capacities) and how they can be managed to enhance employee performance outcomes.

This is one of the first Australian studies to comprehensively examine the influence of substitutes for leadership on performance outcomes.

This paper aims to furnish incremental insights on dividends and corporate governance (CG) by addressing the relationship between board meeting frequency and board independence with dividend payout. In particular, this study aims to investigate whether CG attributes are substitutes to control agency problem within the Malaysian context.

This paper examines panel data on a sample of 114 Malaysian firms (798 observations) for seven years from 2002 to 2008.

Based on 798 firm-year observations for the period from 2002 to 2008, the results show significant negative relationship between CG (board independence, board meeting frequency) and dividend payout. This suggests that CG and dividend payout are substitutes in reducing agency costs. Our study provides empirical evidence consistent with the “substitution argument”, indicating that firms with weak CG need to establish reputation by paying more dividends. Specifically, the findings indicate that firms with a higher proportion of independent directors and boards of director that meet more frequent pay lower dividends.

This paper provides evidence on previously untested governance characteristics in relation to how they act as substitute mechanisms with dividends for reducing agency costs. The results builds a strong case for the fresh strand of knowledge on dividends and CG which tests each CG variables to understand each of its unique relationship with dividends in line with the dividends outcome or substitute theory.

Based on the high-involvement management model and the Substitutes for Leadership theory, the purpose of this paper is to evaluate the moderating role of high-involvement management practices on the relation between managers’ transformational leadership and employees’ affective organizational commitment.

Data were collected from employees of a large Canadian financial firm. Questionnaires were sent out and 219 received, representing a response rate of 63.3 percent. The hypotheses were tested using multiple regressions analysis with moderation effects.

The results show three statistically significant interactions between transformational leadership and high-involvement management practices. More specifically, information sharing and power sharing practices acted as leadership enhancers, while skill development practices served as a leadership substitute.

The results of this research could help immediate supervisors adjust their leadership strategies to their organizations’ HRM practices, and also guide top managers in choosing practices that can support these supervisors.

This study contributes to the literature on leadership by considering how contextual factors may affect the influence of transformational leadership and by integrating HRM practices within the substitutes for leadership framework.

Transformational leadership has been found to positively influence employee attitudes and behaviors. However, research also has shown that a variety of task and motivational factors lead to similar outcomes. Yet, little research has explored the potential interaction of transformational leadership with these other factors. We utilize fuzzy-set/qualitative comparative analysis to explore the ways these factors may interact to produce positive employee outcomes. Specifically, we found that high levels of employee commitment and performance can be achieved in the absence of a transformational leader through various “bundles” of enriched jobs, challenging goals, and high quality leader–follower relationships.

This article deals with how to test for and evaluate interdependence among control practices in a management control system using structural equation modeling. Empirical research on the levers of control (LOC) framework is used as an example. In LOC research, a path model approach to interdependence has been developed. The appropriateness of this approach is evaluated, developed, and compared with the correlation of residuals approach (seemingly unrelated regression) implemented in the wider complementarity literature. Empirical examples of the different models are shown and compared by using a data set on LOC of 120 SBUs in Sweden. The empirical results show that modeling interdependence among control practices in a management control system as non-recursive (bi-directional) paths or as residual correlations evidently affects the conclusions drawn about interdependence in terms of both presence and magnitude. The two models imply different views on how to conceptualize interdependence and are not statistically and empirically comparable. If using non-recursive path models, several model specification issues appear. To be able to identify such models, this needs to be carefully considered in the theory and research design prior to data collection.

The purpose of this paper is to examine the moderating effect of corporate governance on the impact of earnings management on dividend policy.

In this paper, the authors selected French non-financial companies listed on the CAC All Tradable index during the 2008–2015 period. Feasible generalized least square regression method is used to estimate the econometric models.

The empirical results allowed the authors to confirm and/or reject certain hypotheses. First, the ownership concentration seems to positively moderate the impact of earnings management on dividend policy. Another conclusion that the authors have been able to draw is that the effect of earnings management on dividend policy is more favorable in the case of firms with a small director’s board.

Our results have shown that French firms run earnings to inform the market that they can distribute dividends. Therefore, we recommend that the various partners of the firm pay more attention to the governance mechanisms of these types of companies and, in particular, in countries where foreign investors suffer from weak legal protection (Easterbrook, 1984; Gomes, 2000; La Porta et al., 2000 and Athari et al., 2016). In fact, standardization bodies, the Ministry of Finance, external auditors and stock exchange organizer must focus on sophisticated governance mechanisms to ensure better quality of financial reporting.

To our knowledge, no other research has examined whether the impact of earnings management on dividend policy varies significantly with the moderating effect of certain governance mechanisms in France.

This study aims to find whether the Indian private corporate sector follow stable cash dividend policies, whether dividends smoothen earnings, estimate the implicit target dividend ratio, and examine the determinants along with speed of adjustment of dividends towards a long run target ratio.

The study uses the instrumental variable (IV) approach for dynamic panel data for 1971‐2010 periods controlling for economic reforms. The GMM‐in‐levels model, GMM‐in‐first‐differences and GMM‐in‐systems are alternatively estimated to include other lag structures.

In the post‐reform period lower dividends are consistent with rapid growth in the economic environment and the tendency to smoothen dividends has considerably decreased over time. The estimated model suggests dividends substitute for less opportunity for internal growth and increased general likening to relatively retain their earnings and finance their growth, unlike the past.

Limitation to capture substitution, ownership and self selection effects stems up from data as the Annual Studies RBI does not include such variables, does not capture qualitative data and disallows identification of the firm.

The paper documents long run trends and inter‐temporal dividend patterns controlling economic reforms for a relatively larger number of public limited firms nearing four decades for an emerging economy.

This is a first attempt to take a holistic view of dividend using rich set of unexplored dynamic panel data on Indian firms controlling for reforms using contemporary econometric models and analyzes issues relating determinants, smoothening and stability of the corporate dividend structure.

This paper aims to investigate the relation between corporate governance and dividend policy in Sri Lankan firms.

The data set consists of market data using 1,608 firm-year observations from 201 firms listed on the Colombo Stock Exchange and survey-based data from 151 respondents from the same 201 firms. The authors use data triangulation to examine the two approaches.

The analysis of the market data reveals that a significantly positive relation between corporate governance on both the propensity to pay dividends and dividend payout. Survey analysis confirms these findings. Triangulated evidence supports the outcome model of dividends, free cash flow and agency cost theories.

The findings are useful not only for management in developing suitable corporate governance practices and dividend policies for their firms but also for shareholders in evaluating both existing and new investments. Future researchers should investigate the same phenomenon in other contexts using triangulation approaches to confirm their findings.

This study is the first to use governance indices both in terms of survey and market-based data to examine the relation between corporate governance and dividend policy.

The purpose of this study is to investigate the relationship between financial decisions and ownership structure by using the control contests on a sample of Italian listed companies.

The analysis adopts a balanced panel data set of 984 firm-year observations for the period of 2002-2013, with estimation using a generalized method of moments.

The results appear to confirm both the hypotheses of the alignment of interests and the entrenchment effect. The entrenchment and alignment effects are not found to be alternatives but rather are found to co-exist. The presence of a coalition of minority shareholders acts as a tool to control agency costs, particularly when the coalition is instrumental in the contestability of corporate control.

These findings suggest that minority shareholders may have a larger impact than previously identified by strategically aligning with other shareholders to form coalitions. This study provides several practical implications. First, dividend payout is not necessarily a good instrument to control and monitor agency costs. This is because the payout can be used to expropriate benefits from the minority shareholders. Second, high ownership concentration does not always reduce agency costs. Third, a non-collusive coalition can be more useful in the monitoring of agency costs than other tools, such as the debt level.

This study shows that there is considerable value to the firm when individual blockholders come together in a contestable environment and become instrumental in making business decisions. The results support the contention that contestability is an excellent deterrent to dampen the expropriation of benefits to minority shareholders. This study also provides evidence that cash holding can be a good substitute for dividends and debt in the effort to limit agency costs.