Toward a Stewardship Theory of Management

Davis, James H.; Schoorman, F. David; Donaldson, Lex

doi:10.2307/259223

Cited by 2,183 publications

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“…under the monitoring hypothesis it may erodes the independence and effectiveness of the board (Fama & Jensen, 1983) but the accumulation of powers of two figures in a single person (CEO duality) facilitates the transmission of information, reducing coordination costs and avoiding the emergence of potential conflict of interests between the two positions (Davis, Choorman, & Donaldson, 1997).The duality of CEO and BoD president in the same person is not considered a good mechanism for the independence of the latter over the executive power. In the same vein, Gul and Leung (2004) corroborate that such duality is associated with lower levels of voluntary disclosure.…”

Section: Literature Review and Research Questionsmentioning

confidence: 99%

Risk Disclosure Analysis in the Corporate Governance Annual Report Using Fuzzy-Set Qualitative Comparative Analysis

2016

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This paper explores the necessary and sufficient conditions of good Corporate Governance practices for high risk disclosure by firms in their Corporate Governance Annual Report. Additionally, we explore whether those recipes have changed during the financial crisis. With a sample of 271 Spanish listed companies, we applied fuzzy-set qualitative comparative analysis to a database of financial and non-financial data. We report that Board of Directors independence, size, level of activity and gender diversity, CEO duality, Audit Committee independence, being audited by the Big Four auditing firms and the presence of institutional investors are associated with high risk disclosure. The conditions included in almost every combination are the presence of institutional investors and being audited by the Big Four. We found similar combinations for 2006 and 2012, while the analysis for 2009 showed the lowest number of causal configurations.KEYWORDS | Board composition, corporate governance, fuzzy-set qualitative comparative analysis, independent director, risk disclosure. RESUMO O presente artigo investiga as condições necessárias e suficientes das boas práticas de Governança RAE-Revista de Administração de Empresas | FGV/EAESP

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Section: Literature Review and Research Questionsmentioning

confidence: 99%

Risk Disclosure Analysis in the Corporate Governance Annual Report Using Fuzzy-Set Qualitative Comparative Analysis

2016

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“…The ideas embedded within this theory posit that the purpose of the governing board is to monitor and control the actions of the CEO (Davis & Schoorman, 1997). Agency theory assumes that the owners of an organisation will have divergent interests from those who manage it (Fama & Jensen, 1983).…”

Section: Locating the Study: Scholarly Conversations In Sport Governancementioning

confidence: 99%

Sport governance encounters: Insights from lived experiences

Shilbury

Ferkins

Smythe

2013

Sport Management Review

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“…However, some alternative theories explain the board and its function, as well. Examples include the stewardship theory (Donaldson and Davis, 1991;Davis et al, 1997), resource dependence theory (Pfeffer and Salancik, 1978), and management entrenchment theory (Shleifer and Vishny, 1989). 5 Kind and Schläpfer (2011) show that stock markets react negatively to the dismissal of good CEOs.…”

Section: Internal Governance Mechanisms -Board Of Directorsmentioning

confidence: 99%

Foundations of Corporate Governance

Volonté

2012

SSRN Journal

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Toward a Stewardship Theory of Management

Cited by 2,183 publications

References 0 publications

Risk Disclosure Analysis in the Corporate Governance Annual Report Using Fuzzy-Set Qualitative Comparative Analysis

Risk Disclosure Analysis in the Corporate Governance Annual Report Using Fuzzy-Set Qualitative Comparative Analysis

Sport governance encounters: Insights from lived experiences

Foundations of Corporate Governance

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