CEO duality and firm performance : A contingency model

Research output: Journal Publications and Reviews (RGC: 21, 22, 62)21_Publication in refereed journalpeer-review

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Original languageEnglish
Pages (from-to)301-312
Journal / PublicationStrategic Management Journal
Issue number4
Publication statusPublished - 1995
Externally publishedYes


Several studies have addressed the CEO duality‐performance relationship, with inconsistent results. This paper proposes that these inconsistencies can be resolved by integrating agency and stewardship perspectives on duality. Using data from 192 firms in 12 industries, both the direction and magnitude of the duality‐performance relationship was found to vary systematically across Dess and Beard's (1984) environmental dimensions. These results provide partial support for both agency and stewardship perspectives. Copyright © 1995 John Wiley & Sons, Ltd.

Research Area(s)

  • agency theory, boards of directors, chief executive officers, strategy implementation