Abstract
Two contradictory theories, agency theory and stewardship theory, on the relationship between CEO duality and firm risk taking are prominent in the literature. This research argues that both these perspectives have application in internationalization decisions but under different circumstances, determined in part by the various stages of internationalization. Based upon a longitudinal data set of Chinese listed manufacturing firms from 2007 to 2013, results show that duality CEOs will tend to agency behaviors in making pre- internationalization decisions (whether internationalize or not), while they will show more stewardship behaviors in making post- internationalization decisions (entry mode and degree of internationalization). Moreover, market environment munificence will moderate duality CEOs’ choices in internationalization decisions.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
