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.

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.

We study the effect of ownership structure on executive pay and succession in Japanese corporations. We find differences in the effects of domestic and foreign ownership that are based on the nature of owners' relationships with mana gers. Foreign ownership reduces executive pay and enhances the likelihood of executive succession when firms underperform. Domestic ownership has no effect. Our re...

This article provides an overview of the literature on nonprofit principal-agent relationships. It depicts the nature of agency theory and stewardship theory, analyzes the origin of their struggle within the nonprofit structure, and marks directions for a conciliatory approach. We open with an introduction to agency theory and discuss the two main components of its mathematical branch. We there...

This study explores the connections between vegetation cover change, environmental stewardship, and building footprint change in New York City neighborhoods from the years 2000 to 2010. We use a mixed-methods multidisciplinary approach to analyze spatially explicit social and ecological data. Most neighborhoods lost vegetation during the study period. Neighborhoods that gained vegetation tended...

Does CEO duality – the practice of one person serving both as a firm’s CEO and board chair – contribute to or inhibit firm performance? Agency theory suggests that CEO duality is bad for performance because it compromises the monitoring and control of the CEO. Stewardship theory, in contrast, argues that CEO duality may be good for performance due to the unity of command it presents. The empiri...

Digital preservation is fundamental to information stewardship in the 21 century. Although much useful work on preservation strategies has been accomplished, we do not yet have an adequate conceptual framework that articulates precisely and formally what preservation actually is. The intention of the account provided here is to bring us closer to this goal. Following an initial analysis of the ...

This article identifies opportunities and challenges to using sense of place as motivation for long-term stewardship at multiple spatial scales in a rapidly changing world. Sense of place reflects processes by which individuals or groups identify, attach to, depend on, and modify places, as well as the meanings, values, and feelings that individuals or groups associate with a place. These assoc...