The Relationship Between Good Stewardship, Agency Costs, and Performance of South African Firms*

Siphiwe Zungu, Nicole Kandaswami, Taliya Gunpath, Naseeba Limalia, Tahlia Reddy, Divania Govender, Hilary T. Muguto and Paul-Francois Muzindutsi

A chapter in Comparative Analysis of Trade and Finance in Emerging Economies, 2023, vol. 31, pp 1-17 from Emerald Group Publishing Limited

Abstract: This study examined the effect of good stewardship on agency costs and firm performance. The panel data analysis with the Panel Corrected Standard Errors (PCSEs) estimator was employed to analyze the effect of good stewardship on agency cost and the impact of good stewardship on the performance of 37 South African firms from 2007 to 2016. The findings of this study reveal that good stewardship has a significant positive effect on agency costs as well as firm performance, implying that the promotion of good stewardship should be accompanied by suitable strategies to manage additional agency costs.

Keywords: Agency costs; stewardship; firm performance; corporate social responsibility; ESG; panel data analysis; G38; G39; M14 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eme:isetez:s1571-038620230000031001

DOI: 10.1108/S1571-038620230000031001

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