Abstract
We investigate the impact of CEO power on corporate performance in Sri Lanka, characterized by demarcated ethno-linguistic and religious boundaries and devastating ethnic conflicts with subsequent reconciliation. We focus on a CEO's social-dominance power, based on ethnicity, gender, and political connections. Social-dominance power (lack of ethno-religious-linguistic and gender diversity) augments agency conflicts and worsens corporate performance and financial stability in the post-civil-war era. Board inclusiveness (representing different ethnicities, religions, languages, and gender) at the top decision and monitoring levels of corporations positively affects performance.
| Original language | English |
|---|---|
| Article number | 101056 |
| Journal | Emerging Markets Review |
| Volume | 56 |
| DOIs | |
| Publication status | Published - Sept 2023 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
-
SDG 5 Gender Equality -
SDG 10 Reduced Inequalities
Keywords
- Agency costs
- Board diversity
- CEO power
- Civil war
- Ethnic conflict
- Ethnicity
- Gender
- Inclusiveness
- Political connections
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