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The Relationship Between Good Stewardship, Agency Costs, and Performance of South African Firms

In: Comparative Analysis of Trade and Finance in Emerging Economies

Author

Listed:
  • Siphiwe Zungu
  • Nicole Kandaswami
  • Taliya Gunpath
  • Naseeba Limalia
  • Tahlia Reddy
  • Divania Govender
  • Hilary T. Muguto
  • Paul-Francois Muzindutsi

Abstract

This study examined the effect of good stewardship on agency costs and firm performance. The panel data analysis with the Panel Corrected Standard Errors (PCSEs) estimator was employed to analyze the effect of good stewardship on agency cost and the impact of good stewardship on the performance of 37 South African firms from 2007 to 2016. The findings of this study reveal that good stewardship has a significant positive effect on agency costs as well as firm performance, implying that the promotion of good stewardship should be accompanied by suitable strategies to manage additional agency costs.

Suggested Citation

  • Siphiwe Zungu & Nicole Kandaswami & Taliya Gunpath & Naseeba Limalia & Tahlia Reddy & Divania Govender & Hilary T. Muguto & Paul-Francois Muzindutsi, 2023. "The Relationship Between Good Stewardship, Agency Costs, and Performance of South African Firms," International Symposia in Economic Theory and Econometrics, in: Comparative Analysis of Trade and Finance in Emerging Economies, volume 31, pages 1-17, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:isetez:s1571-038620230000031001
    DOI: 10.1108/S1571-038620230000031001
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    More about this item

    Keywords

    Agency costs; stewardship; firm performance; corporate social responsibility; ESG; panel data analysis; G38; G39; M14;
    All these keywords.

    JEL classification:

    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • G39 - Financial Economics - - Corporate Finance and Governance - - - Other
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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