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CEO duality leadership and corporate diversification behavior |
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| Authors: | Kong-Hee Kim Hussam A. Al-Shammari Bongjin Kim Seung-Hyun Lee |
| Affiliation: | a Department of Management, St. Cloud State University St. Cloud, MN 56301, United States b Department of Management, Indiana University of Pennsylvania 664 Pratt Drive Indiana, PA 15705, United States c College of Business, Ewha Womans University, Seoul, Korea d School of Management, University of Texas at Dallas, P.O. Box 830688, SM 43, Richardson, TX 75083, United States |
| 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 |
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