Board leadership structure and firm performance: an examination of resource dependence role

Article

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.
Article Title

Board leadership structure and firm performance: an examination of resource dependence role

ERA Journal ID36147
Article CategoryArticle
Authors
AuthorRashid, Afzalur
EditorsAlexander, Kostyuk
Journal TitleCorporate Board: role, duties and composition
Journal Citation7 (1), pp. 7-23
Number of Pages17
Year2011
Place of PublicationSumy, Ukraine
ISSN1810-8601
Web Address (URL)http://www.virtusinterpress.org/journals-cb-index.html
Abstract

This study examines if the CEO duality influence the firm economic performance in Bangladesh and the moderating effects of board composition in the form of outside independent directors. While doing so, it examines the relationship between CEO duality and firm performance during the pre appointment of outside independent directors and post appointment of outside independent directors (the role of other corporate governance mechanism as moderating variable). The finding is that there is a negative (non-significant) relationship between CEO duality and firm performance before appointment of outside independent directors in the board. However, independent leadership structure and firm performance is found to be positively related following the acquisition of resource (outside independent directors in the board) supporting the 'resource dependence theory'. The findings of this study partially support the 'agency theory' and 'resource dependence theory' but do not support the stewardship theory. This study contributes to the literature on CEO duality in the context of less a developed country.

Keywordsagency theory; Bangladesh; independent directors; CEO; power; resource dependence; stewardship theory
ANZSRC Field of Research 2020350799. Strategy, management and organisational behaviour not elsewhere classified
380109. Industry economics and industrial organisation
350711. Organisational planning and management
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Byline AffiliationsSchool of Accounting, Economics and Finance
Institution of OriginUniversity of Southern Queensland
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