CEO DUALITY AND FIRM PERFORMANCE - A CONTINGENCY-MODEL

• 成果类型: Article
• 署名作者: BOYD, BK
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.4250160404
• 发表日期: 1995
• 页码: 301-312
• 关键词: Boards of directors; CHIEF EXECUTIVE OFFICERS; Agency theory; STRATEGY IMPLEMENTATION

摘要

Several studies have addressed the CEO duality-performance relationship, with inconsistent results. This paper proposes that these inconsistencies can be resolved by integrating agency and stewardship perspectives on duality. Using data from 192 firms in 12 industries, both the direction and magnitude of the duality-performance relationship was found to vary systematically across Dess and Beard's (1984) environmental dimensions. These results provide partial support for both agency and stewardship perspectives.