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dc.contributor.authorErikson, T
dc.contributor.authorColeridge, C
dc.contributor.authorBjornali, E
dc.date.accessioned2022-06-06T23:30:53Z
dc.date.available2022-06-06T23:30:53Z
dc.date.issued2022-05
dc.identifier.issn0166-4972
dc.identifier.urihttps://www.repository.cam.ac.uk/handle/1810/337717
dc.description.abstractIn this study, we conjecture that the governance structure matters when it comes to maximizing the growth potential under conditions of fundamental uncertainty. Whereas agency theory is concerned with minimizing potential agency costs, and is concerned with control, stewardship theory, in contrast, relies on trust, and is concerned with maximizing potential joint performance. In support of stewardship theory, we find that intraboard trust (a trusting relationship among board directors, and the incumbent CEO) directly influences the effectiveness of the venturing teams, but also that intraboard behavioural integration mediates this relationship. Intraboard trust and intraboard behavioural integration reflects the less studied board internal social capital (as contrasted to the more studied board external social capital). We also find that CEO duality moderates these relationships in two out of three possible ways. Our approach aligns the ‘flipped’ role of the CEO – which has most recently been argued to represent an innovation in corporate governance – to stewardship theory. Implications for theory and practice are discussed.
dc.publisherElsevier BV
dc.rightsAttribution 4.0 International
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/
dc.titleVenture governance and its dynamics: intraboard relationships and CEO duality
dc.typeArticle
dc.date.updated2022-06-06T07:58:56Z
prism.endingPage102540
prism.number102540
prism.publicationDate2022
prism.publicationNameTechnovation
prism.startingPage102540
dc.identifier.doi10.17863/CAM.85126
dcterms.dateAccepted2022-04-28
rioxxterms.versionofrecord10.1016/j.technovation.2022.102540
rioxxterms.versionVoR
rioxxterms.typeJournal Article/Review
cam.issuedOnline2022-05-03
cam.depositDate2022-06-06
pubs.licence-identifierapollo-deposit-licence-2-1
pubs.licence-display-nameApollo Repository Deposit Licence Agreement


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Attribution 4.0 International
Except where otherwise noted, this item's licence is described as Attribution 4.0 International