Squires, Bruce and Elnahla, Nada (2020) The roles played by boards of directors: an integration of the agency and stakeholder theories. Transnational Corporations Review, 12 (2). pp. 126-139. ISSN 1918-6444

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Abstract

This paper explores the development and articulation of the agency and stakeholder theories ofthe firm and their corresponding logics of shareholder wealth maximisation and stakeholderinterest optimisation. We note how these two perspectives have been viewed as diametricallyopposite normative, instrumental and descriptive theories, despite efforts by some authors tofind common ground. Each has served as a basis for firm governance. We explore the relation-ship of the agency and stakeholder theories to the conceptualisations of the roles of boards ofdirectors, and how both theories hold value in understanding two board function.

Item Type:	Article
Keywords:	Boards; stakeholder theory; agency theory; governance; control roles; service roles;
Academic Unit:	Faculty of Social Sciences > School of Business
Item ID:	17188
Identification Number:	https://doi.org/10.1080/19186444.2020.1757340
Depositing User:	Nada Elnahla
Date Deposited:	15 May 2023 14:40
Journal or Publication Title:	Transnational Corporations Review
Publisher:	Taylor & Francis (Routledge)
Refereed:	Yes
URI:	Publisher
Use Licence:	This item is available under a Creative Commons Attribution Non Commercial Share Alike Licence (CC BY-NC-SA). Details of this licence are available here

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