CEO duality leadership and corporate diversification behavior

Kong-Hee Kim, Hussam A. Al-Shammari, Bongjin Kim and Seung-Hyun Lee

Journal of Business Research, 2009, vol. 62, issue 11, 1173-1180

Abstract: This study examines an important, yet understudied relationship between CEO duality and corporate diversification. Results based on the data collected from Fortune 1000 U.S companies indicate that CEO duality is positively associated with corporate diversification into unrelated industries. Further analyses reveal that this relationship is moderated by a number of corporate governance mechanisms. We find that board equity ownership and institutional ownership concentration weaken the initially positive relationship between CEO duality and unrelated diversification while CEO tenure and board independence strengthen this relationship.

Keywords: CEO; duality; Unrelated; diversification; Corporate; governance; mechanisms (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (40)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:62:y:2009:i:11:p:1173-1180

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