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Revisiting Agency and Stewardship Theories
Author(s) -
Bernstein Ruth,
Buse Kathleen,
Bilimoria Diana
Publication year - 2016
Publication title -
nonprofit management and leadership
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.844
H-Index - 54
eISSN - 1542-7854
pISSN - 1048-6682
DOI - 10.1002/nml.21199
Subject(s) - stewardship theory , corporate governance , stewardship (theology) , agency (philosophy) , principal–agent problem , perception , public relations , diversity (politics) , principal (computer security) , business , accounting , political science , management , sociology , psychology , economics , law , politics , finance , neuroscience , computer science , operating system , social science
Using principal–agent theories, this study examined differences in the perceptions of nonprofit chief executive officers ( CEOs ) and board chairs on key governance aspects, including board performance, leadership, satisfaction with diversity, and board meetings. Using data from the CEOs and board chairs of 474 nonprofit organizations, we found statistically significant differences in the governance perceptions of these leaders of nonprofit organizations. The findings provide support for an agency theory explanation about the differing interests of principals (board chairs) and agents ( CEOs ). The findings suggest that these two sets of nonprofit actors frequently operate from different perspectives, potentially affecting the governance of their organizations.