CEO duality and firm performance: evidence from a developing country

Article

Rashid, Afzalur. 2010. "CEO duality and firm performance: evidence from a developing country." Corporate Ownership and Control. 8 (1), pp. 163-175.
Article Title

CEO duality and firm performance: evidence from a developing country

ERA Journal ID19082
Article CategoryArticle
Authors
AuthorRashid, Afzalur
Journal TitleCorporate Ownership and Control
Journal Citation8 (1), pp. 163-175
Number of Pages13
Year2010
Place of PublicationSumi, Ukraine
ISSN1727-9232
1810-3057
Web Address (URL)http://www.virtusinterpress.org/additional_files/journ_coc/issues/COC_(Volume_8_Issue_1_Fall_2010_Continued1).pdf
Abstract

This study examines if the CEO duality influences firm performance in Bangladesh. It also examines the interaction of industries in influencing the relationship between CEO duality and firm performance. From an observation of 825 firm years this study uses a 2-stage least square regression (2SLS) analysis. The finding is that, there is a negative (non-significant) relationship between CEO duality and firm performance. However, when the industry interaction terms (the role of industries as moderating variable) are added, the CEO duality and firm performance is found to vary across industries. The findings of this study suggest that the CEO duality and firm performance is contingent; no single leadership structure is universal; both the leadership structure has cost and benefits. It is beneficial in some situation supporting the stewardship theory while it is not in other situations supporting the agency theory. This study contributes to the literature and ongoing debate on CEO duality and firm performance in the context of developing countries.

Keywordsagency theory; Bangladesh; board Chair; board leadership; CEO; corporate governance; power; stewardship theory
ANZSRC Field of Research 2020440499. Development studies not elsewhere classified
350208. Investment and risk management
350799. Strategy, management and organisational behaviour not elsewhere classified
Byline AffiliationsSchool of Accounting, Economics and Finance
Institution of OriginUniversity of Southern Queensland
Permalink -

https://research.usq.edu.au/item/q079v/ceo-duality-and-firm-performance-evidence-from-a-developing-country

Log in to edit
  • 2330
    total views
  • 27
    total downloads
  • 1
    views this month
  • 0
    downloads this month

Export as

Related outputs

Benefits and costs of International Financial Reporting Standards (IFRS) implementation
Abu Taleb, Mohammad and Rashid, Afzalur. 2024. "Benefits and costs of International Financial Reporting Standards (IFRS) implementation." Chand, Parmod (ed.) Encyclopedia of International Accounting: Elgar Encyclopedias in Economics and Finance series. Edward Elgar Publishing. pp. 112-116
Does size matter Examining the probability of firm emergence from bankruptcy
Zikri, Miftah, Shams, Syed, Rashid, Afzalur and Krishnamurti, Chandrasekhar. 2024. "Does size matter Examining the probability of firm emergence from bankruptcy." International Review of Finance. 24 (4), pp. 669-713. https://doi.org/10.1111/irfi.12462
Corporate carbon performance and firm risk: Evidence from Asia-Pacific countries
Al-Fakir, Eltayyeb Al-Fakir, Rashid, Afzalur, Shams, Syed and Bose, Sudipta. 2024. "Corporate carbon performance and firm risk: Evidence from Asia-Pacific countries ." Journal of Contemporary Accounting and Economics. 20 (2). https://doi.org/10.1016/j.jcae.2024.100427
A Systematic Literature Review of Substance-Use Prevention Programs Amongst Refugee Youth
Aleer, Elijah, Alam, Khorshed and Rashid, Afzalur. 2024. "A Systematic Literature Review of Substance-Use Prevention Programs Amongst Refugee Youth." Community Mental Health Journal. 60 (6), pp. 1151-1170. https://doi.org/10.1007/s10597-024-01267-6
Substance Abuse Amongst Refugee Youth: A Scoping Review
Aleer, Elijah, Alam, Khorshed, Rashid, Afzalur, Mohsin, Mohd and Eacersall, Douglas. 2023. "Substance Abuse Amongst Refugee Youth: A Scoping Review." Current Addiction Reports. 10 (3), pp. 594-609. https://doi.org/10.1007/s40429-023-00502-6
Corporate carbon performance and cost of debt: Evidence from Asia-Pacific countries
Al-Fakir Al Rabab'a, Eltayyeb, Rashid, Afzalur and Shams, Syed. 2023. "Corporate carbon performance and cost of debt: Evidence from Asia-Pacific countries." International Review of Financial Analysis. 88, pp. 1-16. https://doi.org/10.1016/j.irfa.2023.102641
The evolution and determinants of corporate social responsibility (CSR) disclosure in a developing country: extent and quality
Soobaroyen, Teerooven, Ramdhony, Dinesh, Rashid, Afzalur and Gow, Jeff. 2023. "The evolution and determinants of corporate social responsibility (CSR) disclosure in a developing country: extent and quality." Journal of Accounting in Emerging Economies. 13 (2), pp. 300-330. https://doi.org/10.1108/JAEE-02-2020-0031
The Influence of Corporate Governance and Corporate Foundations on Corporate Social Responsibility (CSR) Reporting Practices
Ramdhony, Dineshwar, Rashid, Afzalur, Gow, Jeff and Soobaroyen, Teerooven. 2022. "The Influence of Corporate Governance and Corporate Foundations on Corporate Social Responsibility (CSR) Reporting Practices." Journal of African Business. 23 (3), pp. 816-832. https://doi.org/10.1080/15228916.2021.1952521
Carbon disclosure, carbon performance and financial performance: international evidence
Siddique, Md Abubakar, Akhtaruzzaman, Md, Rashid, Afzalur and Hammami, Helmi. 2021. "Carbon disclosure, carbon performance and financial performance: international evidence." International Review of Financial Analysis. 75, pp. 1-15. https://doi.org/10.1016/j.irfa.2021.101734
Do gender-diverse boards over-invest in corporate social responsibility (CSR)?
Ramdhony, Dinesh, Rashid, Afzalur and Gow, Jeff. 2021. "Do gender-diverse boards over-invest in corporate social responsibility (CSR)?" Gender, Technology and Development. 25 (1), pp. 43-67. https://doi.org/10.1080/09718524.2021.1880038
Board independence and corporate social responsibility reporting: mediating role of stakeholder power
Rashid, Afzalur. 2021. "Board independence and corporate social responsibility reporting: mediating role of stakeholder power." Management Research Review: Communication of emergent international management research. 44 (8), pp. 1217-1240. https://doi.org/10.1108/MRR-09-2020-0590
The Hayne Royal Commission and the financial planning advice: A review of the impact on the operating model of financial advice firms
Abu-Taleb, Mohammad, Rashid, Afzalur and Shams, Syed. 2021. "The Hayne Royal Commission and the financial planning advice: A review of the impact on the operating model of financial advice firms." Financial Planning Research Journal. 6 (1), pp. 74-85.
Corporate social responsibility reporting: meeting stakeholders expectations or efficient allocation of resources?
Rashid, Afzalur. 2021. "Corporate social responsibility reporting: meeting stakeholders expectations or efficient allocation of resources?" International Journal of Accounting and Information Management. 29 (2), pp. 280-304. https://doi.org/10.1108/IJAIM-09-2020-0150
Institutional shareholding and corporate social responsibility reporting: evidence from Bangladesh
Rashid, Afzalur. 2021. "Institutional shareholding and corporate social responsibility reporting: evidence from Bangladesh." Journal of Asia Business Studies. 15 (1), pp. 153-173. https://doi.org/10.1108/JABS-09-2019-0285
CEO power and corporate social responsibility (CSR) disclosure: does stakeholder influence matter?
Rashid, Afzalur, Shams, Syed, Bose, Sudipta and Khan, Habib. 2020. "CEO power and corporate social responsibility (CSR) disclosure: does stakeholder influence matter?" Managerial Auditing Journal. 35 (9), pp. 1279-1312. https://doi.org/10.1108/MAJ-11-2019-2463
What drives green banking disclosure? An institutional and corporate governance perspective
Bose, Sudipta, Khan, Habib Zaman, Rashid, Afzalur and Islam, Shajul. 2018. "What drives green banking disclosure? An institutional and corporate governance perspective." Asia Pacific Journal of Management. 35 (2), pp. 501-527. https://doi.org/10.1007/s10490-017-9528-x
The influence of corporate governance practices on corporate social responsibility reporting
Rashid, Afzalur. 2018. "The influence of corporate governance practices on corporate social responsibility reporting." Social Responsibility Journal. 14 (1), pp. 20-39. https://doi.org/10.1108/SRJ-05-2016-0080
Does corporate social responsibility reporting enhance shareholders’ value? A simultaneous equation approach
Rashid, Afzalur. 2018. "Does corporate social responsibility reporting enhance shareholders’ value? A simultaneous equation approach." Journal of Financial Reporting and Accounting. 16 (1), pp. 158-178. https://doi.org/10.1108/JFRA-10-2016-0084
Corporate board gender diversity and corporate social responsibility reporting in Malaysia
Binti Ju Ahmad, Nurulyasmin, Rashid, Afzalur and Gow, Jeff. 2018. "Corporate board gender diversity and corporate social responsibility reporting in Malaysia." Gender, Technology and Development. 22 (2), pp. 87-108. https://doi.org/10.1080/09718524.2018.1496671
Board independence and firm performance: evidence from Bangladesh
Rashid, Afzalur. 2018. "Board independence and firm performance: evidence from Bangladesh." Future Business Journal. 4, pp. 34-49. https://doi.org/10.1016/j.fbj.2017.11.003
Board Independence and Corporate Social Responsibility (CSR) Reporting in Malaysia
Binti Ju Ahmad, Nurulyasmin, Rashid, Afzalur and Gow, Jeff. 2017. "Board Independence and Corporate Social Responsibility (CSR) Reporting in Malaysia." Australasian Accounting Business and Finance Journal. 11 (2), pp. 61-85. https://doi.org/10.14453/aabfj.v11i2.5
Firm characteristics and compliance with IAS/IFRS: Evidence from North African companies
Alnaas, Ali and Rashid, Afzalur. 2019. "Firm characteristics and compliance with IAS/IFRS: Evidence from North African companies." Journal of Financial Reporting and Accounting. 17 (3), pp. 383-410. https://doi.org/10.1108/JFRA-06-2018-0052
Board meeting frequency and corporate social responsibility (CSR) reporting: evidence from Malaysia
Binti Ju Ahmad, Nurulyasmin, Rashid, Afzalur and Gow, Jeff. 2017. "Board meeting frequency and corporate social responsibility (CSR) reporting: evidence from Malaysia." Corporate Board: role, duties and composition. 13 (1-1), pp. 87-99. https://doi.org/10.22495/cbv13i1c1art3
Renewable and non-renewable energy use and its relationship with economic growth in Myanmar
Ahmed, Shakoor, Alam, Khorshed, Sohag, Kazi, Gow, Jeff, Rashid, Afzalur and Akter, Mohsina. 2019. "Renewable and non-renewable energy use and its relationship with economic growth in Myanmar." Environmental Science and Pollution Research. 26 (22), pp. 22812-22825. https://doi.org/10.1007/s11356-019-05491-6
Militarisation, energy consumption, CO2 emissions and economic growth in Myanmar
Ahmed, Shakoor, Alam, Khorshed, Rashid, Afzalur and Gow, Jeff. 2020. "Militarisation, energy consumption, CO2 emissions and economic growth in Myanmar." Defence and Peace Economics. 31 (6), pp. 615-641. https://doi.org/10.1080/10242694.2018.1560566
Managerial ownership and agency cost: evidence from Bangladesh
Rashid, Afzalur. 2016. "Managerial ownership and agency cost: evidence from Bangladesh." Journal of Business Ethics. 137 (3), pp. 609-621. https://doi.org/10.1007/s10551-015-2570-z
The influence of ownership structures and board practices on corporate social disclosures in a developing country
Rashid, Afzalur and Lodh, Sudhir. 2008. "The influence of ownership structures and board practices on corporate social disclosures in a developing country." British Accounting Association Annual Conference (2008). London, United Kingdom 15 - 16 Sep 2008
CEO duality and corporate social responsibility reporting: evidence from Malaysia
Binti Ju Ahmad, Nurulyasmin, Rashid, Afzalur and Gow, Jeff. 2017. "CEO duality and corporate social responsibility reporting: evidence from Malaysia." Corporate Ownership and Control. 14 (2), pp. 69-81. https://doi.org/10.22495/cocv14i2art7
The influence of corporate governance reforms and firm performance: evidence from emerging economics
Hossain, Amzad and Rashid, Afzalur. 2009. "The influence of corporate governance reforms and firm performance: evidence from emerging economics." American Canadian Conference for Academic Disciplines 2009. Toronto, Canada 25 - 28 May 2009 Canada.
Revisiting agency theory: evidence of board independence and agency cost from Bangladesh
Rashid, Afzalur. 2015. "Revisiting agency theory: evidence of board independence and agency cost from Bangladesh." Journal of Business Ethics. 130 (1), pp. 181-198. https://doi.org/10.1007/s10551-014-2211-y
The influence of stakeholder power on corporate social responsibility: evidence from a relationship-based economy
Rashid, Afzalur. 2015. "The influence of stakeholder power on corporate social responsibility: evidence from a relationship-based economy." Social Responsibility Journal. 11 (2), pp. 270-289. https://doi.org/10.1108/SRJ-09-2013-0109
Corporate intellectual capital reporting in Bangladesh
Rashid, Afzalur. 2013. "Corporate intellectual capital reporting in Bangladesh." International Journal of Learning and Intellectual Capital. 10 (2), pp. 107-121. https://doi.org/10.1504/IJLIC.2013.052909
Corporate governance, executive pay and firm performance: evidence from Bangladesh
Rashid, Afzalur. 2013. "Corporate governance, executive pay and firm performance: evidence from Bangladesh." International Journal of Management. 30 (2), pp. 556-575.
CEO duality and agency cost: evidence from Bangladesh
Rashid, Afzalur. 2013. "CEO duality and agency cost: evidence from Bangladesh." Journal of Management and Governance. 17 (4), pp. 989-1008. https://doi.org/10.1007/s10997-012-9213-x
Corporate governance, ownership structure and firm performance: evidence from an emerging economy
Rashid, Afzalur. 2012. "Corporate governance, ownership structure and firm performance: evidence from an emerging economy." Corporate Ownership and Control. 9 (4), pp. 441-455.
Reply to 'Response: board composition and firm performance: evidence from Bangladesh - a sceptical view'
Rashid, Afzalur, De Zoysa, Anura, Lodh, Sudhir and Rudkin, Kathy. 2012. "Reply to 'Response: board composition and firm performance: evidence from Bangladesh - a sceptical view'." Australasian Accounting Business and Finance Journal. 6 (3), pp. 121-131.
Corporate governance in Bangladesh: a quest for the accountability or legitimacy crisis?
Rashid, Afzalur. 2011. "Corporate governance in Bangladesh: a quest for the accountability or legitimacy crisis?" Devi, S. Susela and Hooper, Keith (ed.) Accounting in Asia. United Kingdom. Emerald. pp. 1-34
Largest blockholding and firm performance: evidence from an emerging economy
Rashid, Afzalur. 2011. "Largest blockholding and firm performance: evidence from an emerging economy." International Research Journal of Finance and Economics.
Board composition, board leadership structure and firm performance: evidence from Bangladesh
Rashid, Afzalur. 2009. "Board composition, board leadership structure and firm performance: evidence from Bangladesh." Segel, Naomi (ed.) 2009 Accounting and Finance Association of Australia and New Zealand Conference (2009 AFAANZ). Adelaide, Australia 05 - 07 Jul 2010 Melbourne, Australia. Accounting & Finance Association of Australia and New Zealand.
Corporate capital structure and firm performance: evidence from Bangladesh
Rashid, Afzalur and Hoque, Ariful. 2011. "Corporate capital structure and firm performance: evidence from Bangladesh." Academy of Taiwan Business Management Review. 7 (2), pp. 59-72.
Corporate capital structure and firm performance: evidence from a developing country
Rashid, Afzalur. 2008. "Corporate capital structure and firm performance: evidence from a developing country." American Accounting Association Annual Meeting 2008. Anaheim, United States 03 - 06 Aug 2008
Corporate governance in Bangladesh: an overview
Rashid, Afzalur, De Zoysa, Anura and Rudkin, Kathy. 2007. "Corporate governance in Bangladesh: an overview." 19th Asian-Pacific Conference on International Accounting Issues. Kuala Lumpur, Malaysia 11 - 13 Nov 2007 Fresno, CA, United States.
Board leadership structure and firm performance: an examination of resource dependence role
Rashid, Afzalur. 2011. "Board leadership structure and firm performance: an examination of resource dependence role." Corporate Board: role, duties and composition. 7 (1), pp. 7-23.
The influence of ownership structures and board practices on corporate social disclosures in Bangladesh
Rashid, Afzalur and Lodh, Sudhir. 2009. "The influence of ownership structures and board practices on corporate social disclosures in Bangladesh." Tsamenyi, Matthew and Uddin, Shahzad (ed.) Research in accounting in emerging economies. Bingley, United Kingdom. Emerald. pp. 211-237
Dividend policy and stock price volatility: evidence from Bangladesh
Rashid, Afzalur and Rahman, A. Z. M. Anisur. 2008. "Dividend policy and stock price volatility: evidence from Bangladesh." Journal of Applied Business and Economics. 8 (4), pp. 71-81.
Corporate intellectual capital disclosure in a non-mandatory disclosure regime
Rashid, Afzalur. 2010. "Corporate intellectual capital disclosure in a non-mandatory disclosure regime." Guthrie, James (ed.) 6th Asia Pacific Interdisciplinary Research in Accounting Conference (APIRA 2010). Sydney, Australia 12 - 13 Jul 2010 Sydney, Australia.
Board composition and firm performance: evidence from Bangladesh
Rashid, Afzalur, De Zoysa, Anura, Lodh, Sudhir and Rudkin, Kathy. 2010. "Board composition and firm performance: evidence from Bangladesh." Australasian Accounting Business and Finance Journal. 4 (1), pp. 76-95.