Abstract
Stewardship theory has emerged as a critical framework in corporate governance, emphasizing
trust, accountability, and long-term value creation. However, empirical validation of
stewardship-driven governance remains limited across industries, with most studies relying on
conceptual analyses. This study therefore examines the evolving relevance of stewardship theory
as a governance framework, addressing key gaps such as its static perception, lack of
standardized methodologies, and the underexplored impact of digital transformation and
artificial intelligence (AI) on governance structures. The study employs an exploratory research
design, integrating insights from corporate governance, leadership studies, behavioral
economics, and sustainability management. Findings indicate that stewardship theory must
adapt to diverse cultural and economic contexts, integrating Environmental, Social, and
Governance (ESG) frameworks and stakeholder capitalism to enhance broader stakeholder
accountability. Additionally, hybrid leadership models and remote work governance pose new
challenges, necessitating digital stewardship frameworks to sustain trust and accountability in
virtual environments. The study concludes that stewardship theory must evolve to address
contemporary governance trends and ensure its applicability in fostering sustainable corporate
leadership. Recommendations include integrating digital stewardship models to accommodate
AI-driven decision-making, remote work structures and ESG governance indicators. These
advancements will enhance the practical relevance of stewardship theory in modern corporate
governance.