Please use this identifier to cite or link to this item: http://hdl.handle.net/11718/20255
Title: Impact of board and ceo characteristics on firms’ performance
Authors: Singla, Chitra
Keywords: Firms Performance;Stewardship theory;Agency theory;CEO characteristics
Issue Date: 4-Apr-2016
Publisher: Indian Institute of Management Ahmedabad
Series/Report no.: W.P.;2016-03-35
Abstract: Corporate governance characteristics like board composition and leadership impact a firm’s performance. Researchers have attempted to explain the relationship using different theoretical perspectives like agency theory, resource dependence theory, and stewardship theory. However, the literature presents ambiguous results where some empirical findings support negative impact and other support positive impact. In this paper, we argue that ambiguity in results could be due to the context specificity of the nature of this relationship. In some contexts, agency theory might be more valid than other theories and in others stewardship theory or resource dependence theory might be more valid. Building on this context specificity, we look at the relationship between board and CEO characteristics on firm’s performance in a longitudinal sample of Indian firms. Our findings suggest that none of the above mentioned theories are completely valid in the India context because we get mixed support for these theories. This calls for a mid-range theory to explain the relationship between corporate governance characteristics and firm’s performance.
URI: http://hdl.handle.net/11718/20255
Appears in Collections:Working Papers

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