CEO social power, board inclusiveness, and corporate performance after ethnic conflicts
Nazliben,Kamil K. Renneboog,Luc Uduwalage,Emil
Nazliben,Kamil K.
Renneboog,Luc
Uduwalage,Emil
Abstract
We investigate the impact of CEO power on corporate performance in Sri Lanka, characterized by demarcated ethno-linguistic and religious boundaries and devastating ethnic conflicts with subsequent reconciliation. We focus on a CEO's social-dominance power, based on ethnicity, gender, and political connections. Social-dominance power (lack of ethno-religious-linguistic and gender diversity) augments agency conflicts and worsens corporate performance and financial stability in the post-civil-war era. Board inclusiveness (representing different ethnicities, religions, languages, and gender) at the top decision and monitoring levels of corporations positively affects performance.
Description
Publisher Copyright: © 2023 The Authors
Date
2023-09
Journal Title
Journal ISSN
Volume Title
Publisher
Research Projects
Organizational Units
Journal Issue
Keywords
Agency costs, Board diversity, CEO power, Civil war, Ethnic conflict, Ethnicity, Gender, Inclusiveness, Political connections, SDG 5 - Gender Equality, SDG 10 - Reduced Inequalities
Citation
Nazliben, K K, Renneboog, L & Uduwalage, E 2023, 'CEO social power, board inclusiveness, and corporate performance after ethnic conflicts', Emerging Markets Review, vol. 56, 101056. https://doi.org/10.1016/j.ememar.2023.101056
License
info:eu-repo/semantics/openAccess