IN SEARCH OF EFFECTIVE CORPORATE GOVERNANCE. AN EXPLORATIVE RESEARCH WITHIN THE CONTEXT OF SEMI PUBLIC HOUSING MANAGEMENT IN THE NETHERLANDS

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Abstract

In this paper we elaborate, supported by literature on trust, a framework for corporate governance that might overcome lacunas in the classical frameworks of the principal agency theory and the stewardship theory. A historical analysis of the development of corporate governance in the context of the Dutch semi-public housing management shows that a mixture of principal agency and stewardship approach of semi-public managers proves to be contradictory and toxic. A discourse analysis and factor analysis report on the search of actors for a more effective corporate governance. The findings are only indicative, due to the explorative stage of the research. The indication is that third framework gets more positive and consistent support in the corporate governance practice. A longitudinal set up and extension of samples and contexts is recommended.

Keywords: Principal Agency, Stewardship, Corporate Governance, Board Interaction, Power Relations, Trust, Non-Profit, Motivation, Autonomy

How to cite this paper: Van Dreven, C.F., & Koolma, H.M. (2016). In search of effective corporate governance. An explorative research within the context of semi-public housing management in the Netherlands. Corporate Ownership & Control, 14(1), 105-116. https://doi.org/10.22495/cocv14i1p10