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Abstract

This study tests the model of Davis, Schoorman, and Donaldson (1997) that proposed determinants of a company’s governance structure. In particular, we focus on the stewardship theory aspects of the model and its ability to predict the presence of a stewardship-orientation CEO at publicly listed U.S. companies. Using survey based data obtained from CEOs and directors of 100 companies in a match-pair design, we identified three variables that predicted the occurrence of stewardship-oriented behaviors by the company’s CEO. These results lend support for the model’s ability to predict the conditions under which stewardship-oriented individuals become CEOs.

Volume

3

Issue

1

First Page

40

Last Page

50

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