The Impact of CEO Duality on Firm Performance

Abstract

CEO duality refers to a leadership structure where the roles of the chairperson of the board and the chief executive officer (CEO) are held by the same individual. This structure contrasts with a separate board leadership structure, where these positions are occupied by two different individuals (Krause et al., 2014). The debate over the impact of CEO duality on firm performance has been dominated by two competing theoretical frameworks: agency theory and stewardship theory.