Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Business
Linking Transgenerational Value Creation With Natural Environment And Sustainability Policy In Family And Non-Family Owned Firms: Extending The Agency-Stewardship Theory Debate, Justin Craig, Clay Dibrell
Linking Transgenerational Value Creation With Natural Environment And Sustainability Policy In Family And Non-Family Owned Firms: Extending The Agency-Stewardship Theory Debate, Justin Craig, Clay Dibrell
Justin B. Craig
In this paper, we extend the existing agency-stewardship theory debate by linking transgenerational value creation with the natural environment. We enlist stewardship and agency theories to frame our discussion. Specifically, a firm with a positive natural environmental sustainability policy (ESP) acts as a proxy for the attributes of stewardship theory, whereas a neutral firm position toward ESP operates as a surrogate for agency theory. We test stewardship theory within the context of non-family (n=175) and family-owned (n=216) firms. Our findings suggest that family-owned firms do exhibit forms of stewardship behavior, while non-family-owned firms displayed propensity toward agency-like actions.