Classical and modern concepts of corporate governance (Stewardship Theory and Agency Theory)
نویسندگان
چکیده
منابع مشابه
agency theory in the corporate governance
the emergence and unprecedented growth of joint stock companies is undoubtedly one of the most significant economic developments.one of the outcomes of this development is the separation of ownership and control of the companies. such separation make it possible for the managers of the companies to make dicisions to serve their interes at the expense of the companies shareholders .this conflict...
متن کاملAccording to Agency Theory and Neoclassical Theory; New Ownership and Diversity of Public Sector Companies in Corporate Life Cycle
The purpose of this study is investigating and determining rate of seizing assets and acquisition other companies by public sector companies. We estimate this rate at various stages of the life cycle of the company. Therefore, according to their size and age, the companies have been divided into small, large, young, and mature groups, and for this purpose, we have collected data from a sample o...
متن کامل3 Stewardship Theory or Agency Theory : CEO Governance and Shareholder Returns by Lex Donaldson †
Agency theory argues that shareholder interests require protection by separation of incumbency of rôles of board chair and CEO. Stewardship theory argues shareholder interests are maximised by shared incumbency of these rôles. Results of an empirical test fail to support agency theory and provide some support for stewardship theory.
متن کامل3 Stewardship Theory or Agency Theory : CEO Governance and Shareholder Returns
Agency theory argues that shareholder interests require protection by separation of incumbency of rôles of board chair and CEO. Stewardship theory argues shareholder interests are maximised by shared incumbency of these rôles. Results of an empirical test fail to support agency theory and provide some support for stewardship theory.
متن کاملCorporate Governance: Theory and Practice
Various theories and philosophies have provided the foundation for the development of alternative forms of corporate governance systems around the world. Furthermore, as economies have evolved through time it appears that corporate executives have deviated from the sole objective of maximizing shareholders’ wealth. Owners of the capital have responded to these forces for the purpose of preservi...
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ژورنال
عنوان ژورنال: Management
سال: 2015
ISSN: 2299-193X,1429-9321
DOI: 10.1515/manment-2015-0015