2020欧洲杯谁能夺冠

Encyclopedia of Sustainable Management

Living Edition
| Editors: Samuel Idowu, René Schmidpeter, Nicholas Capaldi, Liangrong Zu, Mara Del Baldo, Rute Abreu

Chief Executive Officer (CEO Duality)

  • Rebeca García-RamosEmail author
  • Belén Díaz Díaz
Living reference work entry
DOI: http://doi.org/10.1007/978-3-030-02006-4_489-1
  • 121 Downloads

Synonyms

Definition

Chief executive officer (CEO) duality refers to the relationship between the chairperson of the board of directors and the CEO of the company. More specifically, duality of power is defined as the union of the positions of board of directors chairperson and the CEO of the firm in the same person (Gove et al. 2017). This definition of CEO duality, accepted by a greater number of academics, is the so-called pure duality or dual leadership structure (Krause et al. 2014).

Key Issues

The separation of the roles of CEO and board chairperson is an issue that has generated great debate in the literature on corporate governance and one that is still unresolved (Chang et al. 2019; Daily and Dalton 2015; Wang et al. 20192020欧洲杯谁能夺冠). Although there is no unanimity in the recommendations of codes of good governance, in general they suggest an effective separation of the figures of CEO and board chairperson, and none...

This is a preview of subscription content, log in to check access.

References

  1. Adams, R. B. (2017). Boards, and the directors who sit on them. In The handbook of the economics of corporate governance (Vol. 1, pp. 291–382). North-Holland.
  2. Adams, R. B., & Ferreira, D. (2007). A theory of friendly boards. The Journal of Finance, 62(1), 217–250.
  3. Aguilera, R. V. (2006). Corporate governance and employment relations: Spain in the context of Western Europe. In H. Gospel & A. Pendleton (Eds.), Corporate governance and labour management (pp. 197–225). Oxford: Oxford University Press.
  4. Aguilera, R. V., & Jackson, G. (2003). The cross-national diversity of corporate governance: Dimensions and determinants. Academy of Management Review, 28(3), 447–465.
  5. Aktas, N., Andreou, P. C., Karasamani, I., & Philip, D. (2019). CEO duality, agency costs, and internal capital allocation efficiency. British Journal of Management, 30(2), 473–493.
  6. Andrés, P., & Santamaría, M. (2018). Del consejo de administración a los códigos de buen gobierno: un paseo por la literatura académica. Economistas, 158, 106–125.
  7. Braun, M., & Sharma, A. (2007). Should the CEO also be chair of the board? An empirical examination of family-controlled public firms. Family Business Review, 20(2), 111–126.
  8. Brickley, J. A., Coles, J. L., & Jarrell, G. (1997). Leadership structure: Separating the CEO and chairman of the board. Journal of Corporate Finance, 3(3), 189–220.
  9. Chang, K., Lee, J., & Shim, H. (2019). CEO duality and firm performance: Does economic policy uncertainty mediate the relation? International Review of Finance, 19(4), 877–891.
  10. Daily, C. M., & Dalton, D. R. (2015). Corporate governance in the small firm: Prescriptions for CEOs and directors. Journal of Small Business Strategy, 5(1), 57–68.
  11. Donaldson, L., & Davis, J. H. (1991). Stewardship theory or agency theory: CEO governance and shareholder returns. Australian Journal of Management, 16(1), 49–64.
  12. Fama, E. F., & Jensen, M. C. (1983). Agency problems and residual claims. The Journal of Law and Economics, 26(2), 327.
  13. Finkelstein, S., & D’Aveni, R. A. (1994). CEO duality as a double-edged sword: How boards of directors balance entrenchment avoidance and unity of command. Academy of Management Journal, 37(5), 1079–1108.
  14. García-Ramos, R., & García-Olalla, M. (2014). Board independence and firm performance in Southern Europe: A contextual and contingency approach. Journal of Management & Organization, 20(3), 313–332.
  15. Gove, S., Junkunc, M., Bruyaka, O., Kabbach de Castro, L. R., Larraza-Kintana, M., Mingo, S., & Thakur Wernz, P. (2017). Reexamining CEO duality: The surprisingly problematic issues of conceptualization and measurement. Corporate Governance: An International Review, 25(6), 411–427.
  16. Huse, M. (2005). Accountability and creating accountability: A framework for exploring behavioural perspectives of corporate governance. British Journal of Management, 16, S65–S79.
  17. Jensen, M. (1993). The modern industrial revolution, exit and the failure of internal control systems. Journal of Finance, 48(3), 481–531.
  18. Krause, R., Semadeni, M., & Cannella, A. A. (2014). CEO duality: A review and research agenda. Journal of Management, 40, 256–286.
  19. Martin, J. A., & Butler, F. C. (2017). Agent and stewardship behavior: How do they differ? Journal of Management & Organization, 23(5), 633–646.
  20. Wang, G., DeGhetto, K., Ellen, B. P., & Lamont, B. T. (2019). Board antecedents of CEO duality and the moderating role of country-level managerial discretion: A meta-analytic investigation. Journal of Management Studies, 56(1), 172–202.
  21. Yusoff, W. F. W. (2010). Characteristics of boards of directors and board effectiveness: a study of Malaysian public listed companies (Doctoral dissertation, Victoria University).

Copyright information

© Springer Nature Switzerland AG 2020

Authors and Affiliations

  1. 1.Department of Business AdministrationUniversity of CantabriaSantanderSpain

Section editors and affiliations

  • Dirk Reiser

There are no affiliations available