There are competing theoretical rationales and mechanisms used to explain the relation between leadership behaviors (e.g., consideration, initiating structure, contingent rewards, and transformational leadership) and follower performance (e.g., task performance and organizational citizenship behaviors). We conducted two studies to critically examine and clarify the leadership behaviors–follower performance relation by pitting the various theoretical rationales and mechanisms against each other. We first engaged in deductive (Study 1) and then inductive (Study 2) theorizing and relied upon 35 meta‐analyses involving 3327 primary‐level studies and 930 349 observations as input for meta‐analytic structural equation modeling. Results of our dual deductive–inductive approach revealed an unexpected yet surprisingly consistent explanation for why leadership behaviors affect follower performance. Specifically, leader–member exchange is a mediating mechanism that was empirically determined to be involved in the largest indirect relations between the four major leadership behaviors and follower performance. This result represents a departure from current conceptualizations and points to a common underlying mechanism that parsimoniously explains how leadership behaviors relate to follower performance. Also, results lead to a shift in terms of recommendations for what leaders should focus on to bring about improved follower performance. Copyright © 2016 John Wiley & Sons, Ltd.