适度
对偶(序理论)
解释力
证券交易所
委托代理问题
会计
业务
对偶(语法数字)
透明度(行为)
代理(哲学)
新兴市场
公司治理
经济
心理学
政治学
财务
社会心理学
社会学
哲学
艺术
文学类
离散数学
法学
认识论
社会科学
数学
作者
Shahid Ali,Muhammad Akram Naseem,Junfeng Jiang,Ramiz Ur Rehman,Fizzah Malik,Muhammad Ishfaq Ahmad
出处
期刊:SAGE Open
[SAGE]
日期:2022-07-01
卷期号:12 (3): 215824402211161-215824402211161
被引量:7
标识
DOI:10.1177/21582440221116113
摘要
This study addresses the questions of “How” and “When” CEO duality affects firm performance from a developing country’s perspective. To address the research question, CEO duality serves as an explanatory variable, board effectiveness as a mediator, CEO personal characteristics as moderator, firm-specific characteristics as control, and performance indicators as a dependent variable. Our dataset comprises 163 Pakistani firms listed on the Pakistan Stock Exchange for 2009 to 2018. Results demonstrate that CEO’s duality negatively affects a firm’s financial performance; however, board effectiveness mediates the link between CEO duality and firm performance. The results support the agency theory framework. Furthermore, findings proposed that the CEO’s attributes (age, gender, and financial education) significantly moderate the link between a CEO’s duality and firm performance. The findings may be generalized among the developing countries and net 11 ( N-11) specifically. The current study claims to be the first one that explores the mediating role of the board effectiveness and moderating role of the CEO personal attributes together on a duality-performance link employing Pakistan’s corporate data. The findings suggest that policymakers and regulators ensure separation of power between Chairman and CEO to assure transparency through induction of more independence in the board room.
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