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| Tekijä: | Elsayed, K. |
| Otsikko: | A multi-theory perspective of board leadership structure: What does the Egyptian corporate governance context tell us? |
| Lehti: | British Journal of Management
2010 : MAR, VOL. 21:1, p. 80-99 |
| Asiasana: | board of directors leadership corporate governance theories Egypt |
| Kieli: | eng |
| Tiivistelmä: | By exploring either agency theory or stewardship theory, researchers provide contested conclusions on board leadership structure (henceforth as: b-l-s). In both of the theories, the underlying premise is that 'one universal structure fits all'. Yet, the main argument of this paper is that the appropriate b-l-s. varies with some contextual variables and certain actors in a given environment. Econometric analysis shows that b-l-s. varies with firm size, age and ownership structure. This result implies that the assertion of both agency theory (CEO non-duality structure) and stewardship theory (CEO duality structure) may be valid under certain conditions. Thus, existing theories might need to be treated as complementary viewpoints, because depending on just one single perspective is more likely to result in misleading conclusions about the structure in general. |
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