IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Log in (now much improved!) to save this article

Does CEO Duality Really Affect Corporate Performance?

Author Info

Listed author(s):
  • Khaled Elsayed

Abstract

Most research investigating the impact of board leadership structure as a corporate governance mechanism, on corporate performance has focused largely on either the Anglo-American context or the Asian experience and has come up with diverse conclusions. This study sheds light on the extent to which corporate leadership structure affects corporate performance by providing empirical evidence from a sample of Egyptian listed firms. The initial econometric results indicate that CEO duality has no impact on corporate performance. However, when an interaction term between industry type and CEO duality is included in the model, the impact of CEO duality on corporate performance is found to vary across industries, a result that is supportive of both agency theory and stewardship theory. In addition, when firms are categorised according to their financial performance, CEO duality attracts a positive and significant coefficient only when corporate performance is low. Copyright (c) 2007 The Author; Journal compilation (c) 2007 Blackwell Publishing Ltd.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1467-8683.2007.00641.x
File Function: link to full text
Download Restriction: Access to full text is restricted to subscribers.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Article provided by Wiley Blackwell in its journal Corporate Governance: An International Review.

Volume (Year): 15 (2007)
Issue (Month): 6 (November)
Pages: 1203-1214

as
in new window

Handle: RePEc:bla:corgov:v:15:y:2007:i:6:p:1203-1214
Contact details of provider: Web page: http://www.blackwellpublishing.com/journal.asp?ref=0964-8410&site=1

Order Information: Web: http://www.blackwellpublishing.com/journal.asp?ref=0964-8410&site=1

Keywords:

No references listed on IDEAS
You can help add them by filling out this form.

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

as
in new window


Cited by:

  1. Khaled Elsayed, 2011. "Board size and corporate performance: the missing role of board leadership structure," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 15(3), pages 415-446, August.
  2. Elsayed, Khaled & Wahba, Hayam, 2013. "Reinvestigating the relationship between ownership structure and inventory management: A corporate governanceperspective," International Journal of Production Economics, Elsevier, vol. 143(1), pages 207-218.
  3. RAMDANI, Dendi & VAN WITTELOOSTUIJN, Arjen, 2009. "Board independence, CEO duality and firm performance: A quantile regression analysis for Indonesia, Malaysia, South Korea and Thailand," Working Papers 2009004, University of Antwerp, Faculty of Applied Economics.
  4. Sylvie Berthelot, 2012. "Corporate governance mechanisms, accounting results and stock valuation in Canada," International Journal of Managerial Finance, Emerald Group Publishing, vol. 8(4), pages 332-343, September.
  5. Aubert, Nicolas & Garnotel, Guillaume & Lapied, André & Rousseau, Patrick, 2014. "Employee ownership: A theoretical and empirical investigation of management entrenchment vs. reward management," Economic Modelling, Elsevier, vol. 40(C), pages 423-434.
  6. Robert Carty, 2012. "Does CEO duality affect corporate performance? Evidence from the US banking crisis," Journal of Financial Regulation and Compliance, Emerald Group Publishing, vol. 20(1), pages 26-40, February.
  7. Timothy King & Jonathan Williams, 2013. "Bank Efficiency and Executive Compensation," Working Papers 13009, Bangor Business School, Prifysgol Bangor University (Cymru / Wales).
  8. RAMDANI, Dendi & VAN WITTELOOSTUIJN, Arjen, 2009. "Board independence, CEO duality and firm performance: A quantile regression analysis for Indonesia, Malaysia, South Korea and Thailand," ACED Working Papers 2009003, University of Antwerp, Faculty of Applied Economics.
  9. Guillaume Garnotel & Patrick Loux, 2011. "Définition des bonus des dirigeants et performance des entreprises de haute technologie," Revue Finance Contrôle Stratégie, revues.org, vol. 14(3), pages 119-150, September.
  10. Nawaz, Ahmad & Iqbal, Sana, 2015. "Does Social Performance Drives Corporate Governance Mechanism in MFIs? An Issue of Endogeneity," MPRA Paper 65312, University Library of Munich, Germany.
  11. Al-Najjar, Basil & Clark, Ephraim, 2017. "Corporate governance and cash holdings in MENA: Evidence from internal and external governance practices," Research in International Business and Finance, Elsevier, vol. 39(PA), pages 1-12.
  12. Theodore Syriopoulos & Michael Tsatsaronis, 2012. "Corporate Governance Mechanisms and Financial Performance: CEO Duality in Shipping Firms," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 2(1), pages 1-30, June.
  13. Mohammadi, Ali & Basir, Nada O. & Lööf, Hans, 2015. "CEO Duality and Firm Performance Revisited," Working Paper Series in Economics and Institutions of Innovation 400, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
  14. Afzalur Rashid, 2013. "CEO duality and agency cost: evidence from Bangladesh," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 17(4), pages 989-1008, November.
  15. Afzalur Rashid, 2015. "Revisiting Agency Theory: Evidence of Board Independence and Agency Cost from Bangladesh," Journal of Business Ethics, Springer, vol. 130(1), pages 181-198, August.
  16. Nawaz, Ahmad & Iqbal, Sana, 2015. "Financial Performance And Corporate Governance In Microfinance: Who Drives Who? An Evidence From Asia," MPRA Paper 65327, University Library of Munich, Germany.
  17. Jyoti Mahadeo & Teerooven Soobaroyen & Vanisha Hanuman, 2012. "Board Composition and Financial Performance: Uncovering the Effects of Diversity in an Emerging Economy," Journal of Business Ethics, Springer, vol. 105(3), pages 375-388, February.
  18. Emilia Peni, 2014. "CEO and Chairperson characteristics and firm performance," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 18(1), pages 185-205, February.
  19. repec:ehu:cuader:15777 is not listed on IDEAS
  20. Isabel-María García-Sánchez, 2010. "The effectiveness of corporate governance: board structure and business technical efficiency in Spain," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 18(3), pages 311-339, September.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Access and download statistics

When requesting a correction, please mention this item's handle: RePEc:bla:corgov:v:15:y:2007:i:6:p:1203-1214. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)

or (Christopher F. Baum)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.