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.
Davis, James; Frankforter, Steven; Vollrath, David; and Hill, Vanessa
"AN EMPIRICAL TEST OF STEWARDSHIP THEORY,"
Journal of Business & Leadership: Research, Practice, and Teaching (2005-2012): Vol. 3
, Article 6.
Available at: http://scholars.fhsu.edu/jbl/vol3/iss1/6