기업지배구조가 기업가적 전략, 경영진에 대한 신뢰 및 조직성과에 미치는 영향

This study investigated the impacts of corporate governance structure on the entrepreneurial orientation, trust in management and organizational performance. The data were collected from 1,070 employees of 48 Korean listed companies using a survey instrument. The results indicate that the corporate governance structure bring about significant differences in entrepreneurial orientation, trust in management as well as job satisfaction of organizational members. The separation of ownership and control, which is operationalized as the degree of managerial authority delegated to professional management, has a positive impact on the firm's innovative/proactive strategy and employees' evaluations of the trustworthiness of top management. Trust in management mediates the association between the separation of ownership and control and job satisfaction of organizational members. However, the corporate governance structure, entrepreneurial orientation and trust in management have no significant impacts on the return on investment (ROI). The implications of these findings were discussed.