The Diversity Of Corporate Board Committees And Firm Financial Performance
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The Diversity Of Corporate Board Committees And Firm Financial Performance
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Author : David Carter
language : en
Publisher:
Release Date : 2007
The Diversity Of Corporate Board Committees And Firm Financial Performance written by David Carter and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
We examine the relationship between the gender and ethnic minority diversity of the board of directors and the financial performance of the firm, i.e. the economic case for a diverse board of directors. The research is unique because we analyze both the diversity of the board and the diversity of important board committees to gain greater insight into the way diversity affects board functions and, ultimately, shareholder value. Our sample consists of all firms listed on the Fortune 500 over the period 1998-2002 yielding a panel of data with approximately 2,000 firm years. Our data also indicate that the direction of causation goes from board diversity to firm financial performance which supports the economic case for board diversity. When we consider the percentage of women and ethnic minority directors on the board, the diversity of board composition appears to create value for shareholders. The results of a cross-section fixed-effects procedure with lagged variables and a three-stage least-squares estimation support board diversity has a positive effect on financial performance as measured by Tobin's q. However, the board committee evidence also indicates that the process through which gender and ethnic diversity impacts financial performance is subtle and complex. Some functions of the board may benefit from diverse directors while other functions may actually suffer. Furthermore, the type of diversity appears to matter. We conclude a more nuanced view of the economic case for board diversity is most appropriate.
The Diversity Of Corporate Board Committees And Financial Performance
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Author : David Carter
language : en
Publisher:
Release Date : 2008
The Diversity Of Corporate Board Committees And Financial Performance written by David Carter and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
We examine the relationship between the gender and ethnic minority diversity of the board of directors and the financial performance of the firm. The research is unique because we analyze the diversity of important board committees to gain greater insight into the way diversity affects board functions and shareholder value. Our sample consists of all firms listed in the Fortune 500 over the period 1998-2002 which yields a panel of data with approximately 2,000 firm years. The results of three-stage least-squares estimation support the conclusion that board diversity has a positive effect on financial performance as measured by Tobin's q. The evidence on board committees indicates that gender diversity has a positive effect on financial performance primarily through the audit function of the board and ethnic diversity impacts financial performance through all three functions of the board we investigate, audit, executive compensation, and director nomination.
Corporate Governance And Diversity In Boardrooms
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Author : Barbara Sveva Magnanelli
language : en
Publisher: Springer Nature
Release Date : 2020-10-02
Corporate Governance And Diversity In Boardrooms written by Barbara Sveva Magnanelli and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-10-02 with Business & Economics categories.
This book explores diversity in boardrooms to highlight the link between the heterogeneous dimensions of board diversity and their impact on the firms. The book provides a brief definition of corporate governance and focuses on the role and functions of the board of directors. The work contributes to the literature enriching the empirical findings about board diversity. After a deep review of the literature within several theoretical frameworks, such as agency, stakeholder, stewardship, resource dependence, and the institutional theory, the focus moves on the impact on financial performance. The board diversity effects are tested through an empirical analysis conducted on a sample of European listed companies, performing both a single and a joint diversity index analysis. Practitioners and academics will find this book particularly timely and useful as it combines both a review of the literature and robust empirical investigation. It will be an excellent reading for academics and practitioners interested in firm performance, corporate governance and stakeholder theory.
Corporate Governance And Organisational Performance
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Author : Naeem Tabassum
language : en
Publisher: Springer Nature
Release Date : 2020-06-28
Corporate Governance And Organisational Performance written by Naeem Tabassum and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-28 with Business & Economics categories.
Establishing a corporate governance strategy that promotes the efficient use of organisational resources is instrumental in the economic growth of a country, as well as the successful management of firms. This book reviews existing literature and identifies board structural features as key variables of an effective corporate governance system, establishing a multi-theoretical model that links Board structural characteristics with firm performance. It then, using a comprehensive empirical study of 265 companies listed on the Karachi Stock exchange, tests this conceptual model. This research serves as a significant milestone, reflecting the socio-economic setting of emerging economies, and highlighting the need for the corporate sector in emerging markets to move away from a 'tick-box' culture. It argues that the sector needs to implement corporate governance as a tool to mitigate business risks; appoint and empower non-executive directors to achieve an effective monitoring of management; and establish their own ethical and governance principles, applicable to the Board of Directors. Based on an extensive data base, collected painstakingly over five years, this book offers new insights and conceptual framework for further research in this area. Given the breadth and width of the research, it is a useful source of future reference for students, researchers and policy makers.
Board Diversity And Corporate Financial Performance
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Author : Michelle Maria Duguid
language : en
Publisher:
Release Date : 2006
Board Diversity And Corporate Financial Performance written by Michelle Maria Duguid and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Boards of directors categories.
Female Directors Board Committees And Firm Performance
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Author : Colin P. Green
language : en
Publisher:
Release Date : 2017
Female Directors Board Committees And Firm Performance written by Colin P. Green and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
A number of studies have found little economic impact of board gender diversity on firm performance. We return to this issue in the context of large European firms. Our contribution is twofold. First, using information on the gender of CEOs children as a source of exogenous variation in female director appointments, we demonstrate robust positive association of female board representation on firm performance. Second, while previous work has considered female representation broadly, we focus on membership of board committees as a proxy for active involvement in corporate governance. We demonstrate economically meaningful positive effect on performance of female representation on board committees. Our evidence is supportive of the economic rationale for increased female representation on corporate boards.
Diversity And The Effective Corporate Board
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Author : Ram Kumar Mishra
language : en
Publisher: Academic Press
Release Date : 2013-04-16
Diversity And The Effective Corporate Board written by Ram Kumar Mishra and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-04-16 with Business & Economics categories.
The book discusses the various aspects of diversity of corporate boards in terms of gender, age, nationality, tenure, education, experience and personalities. It enumerates the need for such diversity in each category and related concerns. Statistics from around the world support the authors’ claims. The nine chapters in this short book have not been previously published. Explains the dimensions of board diversity and ways to use them to increase effectiveness Supports its findings with statistics from around the world Relevant for researchers and professionals working in corporate governance and corporate finance
Behind Closed Doors
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Author : Kara Hollis
language : en
Publisher: LAP Lambert Academic Publishing
Release Date : 2011-10
Behind Closed Doors written by Kara Hollis and has been published by LAP Lambert Academic Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-10 with categories.
This thesis examines the effects of different forms of corporate board diversity on company financial performance. Specifically, the study considers whether types of informational and demographic diversity, as well as the level of familiarity among board members, lead to improved functioning of the board. To determine the relationship between board diversity and firm performance, the thesis combined quantitative and qualitative data, employing statistical analysis to determine the relationship between various forms of board diversity and firm financial performance of Fortune 1000 corporations, as measured by return on assets (ROA) and return on investments (ROI). It also utilized interviews with eleven Fortune 500 board directors to gain insight into the dynamics behind the boardroom doors that could facilitate or discourage the contributions of different forms of diversity. By combining insights from these two data sources, gender diversity was found to enhance firm performance, while diversity in board experience (measured by the number of boards directors have served on during their career) had a detrimental effect.
The Board Of Directors
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Author : Ettore Croci
language : en
Publisher: Springer
Release Date : 2018-12-04
The Board Of Directors written by Ettore Croci and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-04 with Business & Economics categories.
Boards of directors are a central feature of any corporate governance regime. The role of directors and how they affect firm value and policies is examined in depth in academic literature. However, it is easy to get both lost and overwhelmed when searching through the literature review that investigates several characteristics, often one at the time. This book provides a careful and concise look at corporate finance literature, specifically with regard to the board of directors, summarizing the main findings and reconciling them. This book documents the pros and cons associated with the various attributes of the board and the directors as found in the current literature and provides sections geared specifically to practitioners in this space, as well, allowing for a better and more comprehensive description of this important corporate governance mechanism. The resulting book aims to facilitate the interpretation of changes in corporate governance through the lens of the recent academic literature.
Gender Diversity In The Boardroom
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Author : Cathrine Seierstad
language : en
Publisher: Springer
Release Date : 2017-09-13
Gender Diversity In The Boardroom written by Cathrine Seierstad and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-13 with Business & Economics categories.
This edited collection provides a structured and in-depth analysis of the current use of quota strategies for resolving the pressing issue of gender inequality, and the lack of female representation on corporate boards. Filling the gap in existing literature on this topic, the two volumes of Gender Diversity in the Boardroom offers systematic overviews of current debates surrounding the optimisation of gender diversity, and the suggested pathways for progress. Focusing on sixteen European countries, the skilled contributors explore the current situation in relation to women on boards debates and approaches taken. They include detailed reflections from critical stakeholders, such as politicians, practitioners and policy-makers. Volume 1 focuses on eight European countries having adopted quotas and is a promising and highly valuable resource for academics, practitioners, policy makers and anyone interested in gender diversity because it examines and critiques the current corporate governance system and national strategies for increasing the share of women not only on boards, but within companies beyond the boardroom.