Dissertations / Theses on the topic 'Board performance'
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Farquhar, Stuart. "The impact of board processes on board role performance and effectiveness : an empirical study of UK listed companies." Thesis, University of Wolverhampton, 2011. http://hdl.handle.net/2436/209932.
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In this research the impact of board governance orientation and board processes on board role performance and board effectiveness is examined. Building on existing literature, a model that relates board governance orientation (agency, stakeholder, stewardship and resource dependency) and board processes (cohesiveness, cognitive conflict, affective conflict, communication quality, effort norms, trust and the use of knowledge & skills) to board effectiveness via three mediating variables, board control role, board service role, and board strategy role is developed. The model was tested through a survey of listed companies in the UK. The results are based on 74 companies. The findings show (a) the board undertakes two distinct roles, control and service; (b) process variables, most notably cognitive conflict and the use of knowledge & skills, significantly influence board effectiveness mediated by the board’s control and/or service role; (c) structural variables, specifically the proportion of outsiders on the board, impacts on the board control role; (d) understanding board effectiveness requires a multitheoretic perspective.
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Harris, Erica E. "University Board and Performance." Diss., Temple University Libraries, 2011. http://cdm16002.contentdm.oclc.org/cdm/ref/collection/p245801coll10/id/160965.
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Business Administration/AccountingPh.D.
This dissertation examines the impact of board of director characteristics and policies on nonprofit performance. Using data collected through a survey of nonprofit colleges and universities, I provide evidence that specific board member characteristics and board monitoring policies are vital in shaping both the financial and nonfinancial success of nonprofit institutions of higher education. Related to board characteristics, results indicate that bigger boards with more major donors are consistently associated with better performing organizations, confirming my board contribution hypothesis. These results are in addition to noteworthy relationships between nonprofit success and the number of meetings held by an organization as well as the impact of recruiting board members who serve on other nonprofit boards. In terms of board monitoring, findings confirm regulatory and advisory recommendations that the use of a conflict of interest policy, disclosure of business relationships, nominating and compensation committees are important aspects of board development in addition to longer board terms. These relationships confirm all three monitoring hypotheses, suggesting that board disclosures, organization, and independence all have an important impact on success when it is measured as organizational efficiency, one of the most studied and relied upon measures of performance in the nonprofit sector. This work makes important, initial forays into the relationships between board of director qualities and nonprofit performance. Although limited by the relatively small sample of colleges and universities, given the lack of public data available related to nonprofit boards, this study is unique in the ability to analyze nonprofit boards with both financial and nonfinancial performance measures.
Temple University--Theses
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Van, Heerden Lodewyk. "Corporate governance - appraising board performance." Thesis, Stellenbosch : Stellenbosch University, 2005. http://hdl.handle.net/10019.1/50305.
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Thesis (MBA)--Stellenbosch University, 2005.ENGLISH ABSTRACT: Picture the scene: It's Monday morning and the main article in Business Day is headlined ·Company X Board is under investigation for not diclosing the truth about its financial wellbeing". In recent times life has been very messy and difficult for many boards, but many of them are in a better position to direct their organisation and to add real shareholder value. A sequence of events triggered board changes in organisations. Many boards have realised over the last few years that the rules for direction-giving have changed. The need for accountability is high, the status quo needs to be challenged and sound strategic thinking is critical in their decision-making. Boards need to establish a performance culture with the correct people, equipped with the necessary competencies and capabilities. Leading shareholders demanded board appraisals to evaluate the continuous underperformance of board structures and processes. Some of the questions asked are, if the board is effective as a group to meet the organisation's purpose and if they can monitor the external and internal environment effectively. It is also asked whether the skills and competencies of individual members are sufficient to enable them to fulfill their risk assessment and decision-making director roles sufficiently. Board members must understand their roles to evaluate their personal development and board needs. Boards must ensure a process for appropriate development plans for their individual directorial duties. They need to define which essential strategic decisions are made during the various administrative and information sharing meetings. The annual cycles of boards are important, as is the need to check that all accountabilities are on track. This feedback does not merely concern financial matters. It is important to evaluate strategic decisions to ensure that they are carefully measured against the targets set at the beginning of the year. Many boards have adopted a triple bottom line approach, measuring their financial performance, physical environment and social responsibility reports against agreed targets. These targets need to be incorporated in a board scorecard which will graphically depict the board's value-adding activities. These scorecards will give any board an indication of its effectiveness. Boards have accepted evaluation processes and have gone through a steep learning curve in developing and implementing them. There are numerous approaches to evaluate board performance. Each board must decide whether it is better to do a peer level evaluation, outside evaluation or follow the bottom-up approach. Formal board evaluations have given boards more credibility and have helped to identify gaps in the development of board members. Boards must be developed to become more competent at direction-giving, ultimately in order to contribute to the effectiveness of the organisation. Boards must continue to drive the organisation ahead, while keeping it under control. Board members must realise that their ultimate tests are business effectiveness, in that they must add shareholder value to the balance sheet, and business efficiency, referring to the improvement realised on the profit and loss accounts.
AFRIKAANSE OPSOMMING: Stel jouself voor : Dit is Maandagoggend en die hoofartikel in Business Day is as volg: "Daar is 'n ondersoek gelas na Maatskappy X se kredietwaardigheid rakende hulle finansiele welstand." Direksies oor die laaste paar jare was in 'n warboel. Ons vind tans dat organisasies beter gelei word en dat welvaart geskep word vir alle aandeelhouers. Heelwat faktore het aanleiding gegee dat direksies verander het. Die reels om leiding te gee het verander: direksies moet meer aanspreeklikheid neem, die status quo word meer bevraagteken en goeddeurdagte strategiese denke is almal bydraende faktore. Direksies moet streef om 'n prestasie-kuItuur te vestig met lede wat oor die nodige vaardighede en vermoens beskik. Aandeelhouers dring aan dat direksies se prestasie beoordeel moet word. Tipiese vrae wat gevra word is: is die direksie effektief as 'n groep om die organisasie se primere doel na te streef en kan hulle die interne en eksterne faktore effektief monitor? Individuele direksielede moet oor die nodige bevoegdhede beskik om voldoende risk-analise en direksie-besluitnemings uit te voer. Direksielede moet hulle onderskeie ontwikkelingsrolle verstaan. Dit moet duidelik gedefinieer word watter kritiese strategiese besluite word by watter vergaderings geneem. Jaarlikse siklusse vir direksies is belangrik, dit stel hulle in staat om te evalueer of al die strategiese besluite wat geneem is, uitgevoer is teenoor die ooreengekome doelwitte. Direksies evalueer meestal hulle finansiele prestasie, fisiese omgewing en sosiale verantwoordelikheid teenoor ooreengekome doelwitte. Hierdie doelwitte word meestal ingesluit in die organisasie se telkaart. Die doel van die telkaart is om vir direksies 'n aanduiding te gee of hulle effektief is of nie. Baie direksies het een of ander vorm van evaluasie geimplimenteer. Daar is verskeie benaderings om direksie-prestasie te evalueer. Elke direksie moet self besluit watter benadering is die mees geskikte - eksterne evaluering of "peer to peer" evaluering. Formele evaluering gee meer kredietwaardigheid aan die proses en help ook met die identifisering van ontwikkelingsmoontlikhede. Direksies moet fokus op ontwikkeling sodat hulle meer bevoeg kan raak om beter leiding te gee in die organisasie. Direksies moet onthou dat die bepalende toets is besigheideffektiwiteit, waar aandeelhouer-waardetoevoeging gemeet word en of daar verbeterde besigheidsdoeltreffendheid op die wins en verliesrekening is.
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Adeel, Umer, Francisca Fonkeng Awung, and Mehwish Haider. "Board composition and CSR performance is Swedish Listed firms : Board insiders, ownership concentration and CSR performance." Thesis, Linnéuniversitetet, Institutionen för nationalekonomi och statistik (NS), 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-96228.
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It is no longer surprising that attention paid to corporate social responsibility (CSR) has increased lately, which could be due to the fact that firms action have negative or positive impacts on their stakeholders–employees, customers, investors, suppliers and community. It is the board responsibility to ensure firms pay attention to CSR matters, therefore, board composition will relatively play significant role in CSR implementation. However, prior studies have focus on board diversity, female proportion and independent directors and paid very little attention to inside board member and CSR. In order to study inside board member and CSR, the study found it interesting to look at the institutional norms of Swedish because different institutions structure board different and as such would likely influence CSR differently. The study therefore, focus on ownership concentration, employees representative director (ERD), and CEO presence on board and found out that firm with ownership concentration and also firms having CEO on board have negative relationship with CSR, meanwhile ERD have a positive relationship with social responsibilities. According to the findings in general board comprises of insiders have negative relationship with overall CSR (economic, governance and environmental concern) meanwhile strictly independent directors (of management, CEO, major shareholders, and firm) and female proportion have significant relationship with CSR.
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Homan, Rick. "Dutch board diversity and firm performance." Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-316589.
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This study extends previous research on the effects of executive board diversity by examining the relationship between age-, gender- and nationality diversity on firm performance in the Netherlands. Based on a sample of 79 Dutch listed firms studied over the period 2010-2015, this study reports a positive link between board diversity and firm performance. Firm performance is, hereby, estimated using a forward-looking market performance measure (Tobin’s Q) and a backward-looking accounting measure (ROA).
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Nasonenko, Angelina. "Female board members and corporate performance." Master's thesis, Vysoká škola ekonomická v Praze, 2014. http://www.nusl.cz/ntk/nusl-194101.
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The purpose of this thesis is to investigate the relationship between female representation on boards of British FTSE 100 companies and their corporate performance. The theoretical section sets the foundation for the initial hypotheses that there is a positive relationship between the percentage of women on corporate boards and a firm's profitability, measured as ROE and ROIC. The methodological part establishes an analytical framework to test these hypotheses utilizing the so-called 'quartile approach'. The FTSE 100 companies are categorized into quartiles in accordance with their respective percentage of female directors and subsequently, the average values of ROE and ROIC are calculated for each quartile and compared between each other. The research in the practical part of the thesis shows that profitability varies significantly when comparing the least and most gender diverse FTSE 100 boards. The aim of the thesis was reached by proving the positive correlation between the percentage of female board members and profitability, validated by sensitivity and statistical analyses.
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Kim, Gicherl. "Three-dimensionally interconnected optical backplane for high performance board-to-board interconnects /." Full text (PDF) from UMI/Dissertation Abstracts International, 2000. http://wwwlib.umi.com/cr/utexas/fullcit?p3004304.
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Hoye, Russell, and n/a. "Board Performance of Australian Voluntary Sport Organisations." Griffith University. School of Leisure Studies, 2002. http://www4.gu.edu.au:8080/adt-root/public/adt-QGU20030304.090329.
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The governance of Australian nonprofit voluntary sport organisations (VSOs) was once almost the exclusive domain of volunteers. However, changes in government policy and funding levels in recent years has led to the introduction of professional staff in these organisations. Rapid changes to the political, social and economic environment have created new complexities with which VSOs and their governing boards must grapple. Boards act as the main decision making body for these organisations, and as such have a significant impact on the governance of these organisations, and therefore their ability to deliver services. While the process of professionalisation within VSOs has been well documented, very little research has examined factors that may influence the ability of the boards of VSOs to perform effectively. The fields of nonprofit governance and sport management provided a theoretical and conceptual framework for the investigation of the board performance of VSOs. Two broad themes concerning research into board performance were identified in the nonprofit literature; the structural characteristics of the board, and board-executive relations. These two themes have also been addressed to a limited extent within the sport management literature, but not in relation to board performance. The purpose of this study was to investigate the relationship between board performance, board structures and board-executive relations in Australian VSOs. The study investigated the differences in board structure between effective and ineffective boards, and the relationship between board performance and various elements of board structure, specifically complexity, formalisation and centralisation. The differences in the nature of board-executive relations between effective and ineffective boards, and the relationship of board performance to board-executive relations were also investigated. The sampling frame for the study was state governing bodies of sport in the state of Victoria, Australia. Seven case organisations were identified by a panel of experts; four exhibiting effective board performance and three exhibiting ineffective board performance. Data were collected through structured interviews with executives, from an examination of board documents, from a self-administered questionnaire of executives, board chairs and board members, and through semi-structured interviews with executives, board chairs and board members. Data were collected on board performance, the complexity, formalisation and centralisation of the boards, power patterns within the boards, and the nature of board-executive relations. Data analysis involved both quantitative and qualitative techniques. It was concluded that effective board performance was related to a higher level of board centralisation and associated with a higher level of board formalisation. Board performance was not related to board complexity. Board power patterns that were perceived to be powerless or fragmented were related to lower levels of board performance. Elements of the board-executive relationship that were related to effective board performance were identified as establishing trust between the board and executive, the control of information by the executive, shared board leadership and the responsibility for board performance. Importantly, the study identified the central role executives have in determining the ability of VSO boards to perform effectively. The study contributed to the body of knowledge concerning the governance of VSOs, specifically the measurement of board performance, and the investigation of its relationship with board structure and board-executive relations. A number of questions were advanced for the development of theory and empirical investigation through further research. The study also extended what is known about the models of nonprofit governance and their utility in explaining the workings of VSO boards. The findings of this study suggest that there is a need to adapt such models to the organisational context of member-based organisations such as VSOs.
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Pastra, Aspasia S. "Board of directors' dynamics, board effectiveness and organisational performance : the case of Nordic region." Thesis, Brunel University, 2017. http://bura.brunel.ac.uk/handle/2438/15791.
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The thesis aims to explore the effect of team dynamics on team and organisational outcomes. Dynamics is a broad term that encompasses all the processes and attitudes that exist between team members and influence the direction of team's performance. Trust, conflict and behavioural integration comprise psychological facets of teamwork and are amongst the most common dynamics of a team. The current study aims to shed light on the perceptions of board members about the level of conflict, trust and behavioural integration during board meetings, which comprise the most critical forum of the group. Trust, conflict and behavioural integration are the primary attitudes, behaviors, and cognitions that arise within the board and encompass the core aspects of teamwork. There is a gap in the literature for examining the role of social-psychological processes and interactions between the board members because access to the boardroom is difficult and the researchers are forced to turn their attention on secondary data and proxies for board behaviors. Although that board of directors is an upper echelons group of executives who can ensure the long-term survival of the organisations, there is scarce of research in studying boards from a team perspective. Until today, we have limited knowledge of team processes, such as conflict, both inside the boardrooms and in the context of strategy implementation. The literature review in this thesis is drawn from multiple disciplines, including management, psychology and sociology, which enable us to gain a deep understanding of team's dynamics. The methodology has been based on a positivist approach since the focus is centered around the data collection process and the statistical interpretation of the findings. Primary data was collected from board members in Nordic countries, namely Denmark, Finland, Sweden, Iceland and Norway. The data was collected with the use of survey method and the findings are based on 186 usable responses. The Nordic corporate governance model remains still the less known outside the Nordic region (Thomsen, 2016) but this thesis postulates that valuable lessons can emanate from its study. The study of the Nordic model could give us useful lessons for the roles of the board and the structure of their organisations. The statistical analysis of the model involved: Descriptive Analysis, Exploratory Factor Analysis (EFA), Confirmatory Factory Analysis (CFA) and Structural Equation Modeling (SEM). The results of this thesis provide theoretical and managerial recommendations for achieving superior board performance. The importance of the role of the Behavioural Integration inside the boardroom is underlined as a significant finding of this study. Moreover, the role of Trust in the board context raises some important questions about its priority since there may be other processes or dynamics which present more clear-cut results on board effectiveness. Furthermore, the deleterious effects of conflict have been underlined. It is also underlined that in this competitive era boards should go beyond fiduciary responsibilities to a more strategic role on a broader range of matters With the exception of a few studies, researchers still to move inside the "black box" of the upper echelons processes and understand how the executives in the board interact. Building a strong board of directors requires a focus beyond demographic characteristics to board interactions. The most effective boards have the strongest board dynamics and are characterized by openness, teamness and collaborative behaviour. The power of the board comes from the ability of the directors to effectively work together and hopefully the current study contributes substantially to the corporate governance field and the way that team processes affect team outcomes.
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Wei, Gang. "Board of directors and corporate performance in China." Thesis, Cardiff University, 2005. http://orca.cf.ac.uk/55581/.
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The purpose of this study is to examine the relationship between board of directors (BoD) and corporate performance in China. In particular, it attempts to identify the effects of four attributes of BoD board composition, characteristics of directors, board structure and board process on the financial performance of Chinese listed companies. A large number of empirical studies have examined the correlation between BoD and corporate performance. Few previous studies have examined the effects of BoD on both direct shareholder wealth and company financial performance. Moreover, little attention has been paid to this topic in a Chinese context. Owing to special ownership structure of listed companies, agency problems have recently received more and more attention in China from the academics and policy makers. As noted by Qian (1995) and Firth et al. (2003), agency problems in China are potentially more serious than in the West. Therefore, this study mainly employs agency theory to examine the effects of the BoD on corporate performance. It is utilised, together with other theories, such as resource dependence theory, to develop testable hypotheses and discuss the results. This study finds that there is relatively limited evidence that board independence has significantly positive impacts on corporate performance. In particular, it finds that there is non-linear relationship between board independence and firm performance. There is no negative relation between the proportion of affiliated directors on board and firm current or future performance. In addition, there is no significantly negative correlation between board size and firm current performance. In particular, there is no non-linear relationship between board size and corporate performance. There is no confirmative evidence that stock ownership and cash compensation of independent directors have any positive effects on corporate financial performance. However, there is strong evidence that firm performance depends crucially on the interaction between the magnitude of cash compensation of independent directors and the size of them on board. Also there is no evidence that the incentives of independent directors have any curvilinear effects on current performance. There is no evidence of significantly positive or negative correlation between age and primary occupation of independent directors and firm performance. However, I find that the presence of overseas independent directors has significantly positive impacts on corporate performance. Interestingly, there is a significantly negative correlation between the proportion of female independent directors and corporate performance. There is no clear evidence that CEO duality has any negative impact on current financial performance, which rejects the hypothesis H5. Furthermore, there is a significantly negative relationship between multi-directorship and firm performance. In addition, there is limited evidence that auditing committee has a significantly positive impact on corporate performance. There is no significantly positive correlation between the frequency of board meeting and firm financial performance. However, there is strong evidence that firm performance depends crucially on the interaction between the frequency of board meetings and the size of independent directors appointed. In particular, there is confirmative evidence that frequency of board meeting has curvilinear effect on firm performance. There is no clear evidence that the proportion of directors appointed by government agents control shareholders has a negative impact on corporate performance. However, there is a significantly negative correlation between the proportion of directors appointed by SOE control shareholders and company performance. Furthermore, the relationship between the proportion of directors appointed by SOE control shareholders and company performance is non-linear. The dissertation makes several important contributions to the corporate governance literature. In addition, this study also has implications for policy makers insofar as it offers empirical evidence concerning effectiveness of Chinese BoD in improving financial performance of listed companies. The findings of this study can help the authorities to reform the corporate governance system.
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Horner, Stephen V. "Director ties, board experience, and firm strategic outcomes board experience effects on post-acquisition performance /." Diss., Columbia, Mo. : University of Missouri-Columbia, 2006. http://hdl.handle.net/10355/4489.
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Thesis (Ph. D.) University of Missouri-Columbia, 2006.The entire dissertation/thesis text is included in the research.pdf file; the official abstract appears in the short.pdf file (which also appears in the research.pdf); a non-technical general description, or public abstract, appears in the public.pdf file. Title from title screen of research.pdf file (viewed on August 1, 2007) Includes bibliographical references.
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TO, THI DUNG. "CORPORATE GOVERNANCE Empirical Research on Board Size, Board Composition, Board Activity, Ownership Concentration and Their Effects on Performance Of Vietnamese Listed Companies." Thesis, Högskolan i Borås, Institutionen Handels- och IT-högskolan, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:hb:diva-20773.
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Corporate governance (CG) is a popular topic that gets more concerns today, especially infast developing countries. Numbers of projects and studies relating to CG and their effectson financial performance of companies have been done in many countries, but still this kindof topic is quite new in Vietnam.This paper tries to find out if there is any relationship between board size & composition,board activity, and ownership concentration and firm performances. Based on collectinginformation of listed companies in Vietnam, I use statistical analysis and quantitativemethod to get the paper’s objectives.Based on CG theory and the role of CG structures such as board of directors, ownershipstructure, and this paper also make a review on the compliance of listed companies with CGrules at Vietnamese market recently.Our empirical findings show that independent directors enhanced firm performance;inversely, the dual position of CEO and Chairman has a positive relation with firm value.Besides, age of director and the number of directors meeting play important roles in firmvalue. However, no significant impact of board size, board gender diversity, top tenshareholders concentration and levels of state ownership on firm performance. Lastly,regression model of market performance shows that the duality of CEO and Chairman andthe number of independent directors are significant impact on firm value.
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Norgren, Hanna, and Emmelie Viklund. "Board of directors in small firms : An exploratory study on small business owners in Västerbotten’sperception of the role of the board, board composition and its impact onfirm performance." Thesis, Umeå universitet, Företagsekonomi, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-106534.
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This study examines small business owners at small firms in Västerbotten’s perception on board composition, board diversity and the role of the board together with its impact on firm performance. We were interested in knowing what kind of characteristics these firms are looking for in their board composition and explore their attitudes towards their choice ofinside or outside directors, and also the impact of homogeneity and heterogeneity in theboard. Further, we wanted to examine the general role of the board in small firms and get insight on whether the small business owners believe this had any impact on firm performance or not. The subject of board of directors can be found within the field of corporate governance, in which it has a central role. Existing literature on the subject left a gap of knowledge on board of directors in small firms, from which the opportunity of research was found. Since a vast amount of firms on the Swedish market are small firms, this subject is of significant meaning for understanding and gaining insight into how small business owners in these firms view the board of directors. To get a deeper view into the subject we explored if any differences were detectable between three different industries, and the selected industries were; IT, transportation and construction. This qualitative study was conducted by using a semi-structured interview technique. The objectives of having a qualitative study was to obtain in-depth understandings and perceptions from the participants in order to answer our research questions; What kind of characteristics are small business owners looking for when selecting new board members, what type of different resources can different types of directors bring, and what impact do small business owners believe this has on firms’ performance? The findings from this study revealed that small business owners at small firms in Västerbotten did not value and use the board in the same extent as larger firms had been found to do in other empirical studies. However, indications were found among our sample that small firms in the IT industry uses their boards in another way than other firms do. Moreover, it was of common occurrence that small firms only have one singe director on their boards both due to that they have a board solely due to legal reasons and also due to that the owners, which is also the directors in these firms, does not want to reduce their level of control over the firm. Overall, the impression from the participants’ perceptions and views were that the board was not used in the way it could be and that for many small firms the costof recruiting more directors is too high.
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Schermond, Katherine. "Board Composition and Firm Performance in the Banking Industry." Honors in the Major Thesis, University of Central Florida, 2006. http://digital.library.ucf.edu/cdm/ref/collection/ETH/id/993.
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This item is only available in print in the UCF Libraries. If this is your Honors Thesis, you can help us make it available online for use by researchers around the world by following the instructions on the distribution consent form at http://library.ucf.edu/Systems/DigitalInitiatives/DigitalCollections/InternetDistributionConsentAgreementForm.pdf You may also contact the project coordinator, Kerri Bottorff, at kerri.bottorff@ucf.edu for more information.Bachelors
Business Administration
Finance
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Romano, G., P. Ferretti, and A. Rigolini. "Board of directors and performance in italian banking groups." Thesis, Ukrainian Academy of Banking of the National Bank of Ukraine, 2012. http://essuir.sumdu.edu.ua/handle/123456789/63530.
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Corporate governance represents a central issue for the modern banking industry. The importance of such matter depends surely on the complexity and diversity of the banking activity compared to the one of the non-financial industry and on the role banks play in the financial markets and in the economy. We mainly refer to the credit intermediation activity, to the particular budgetary structure and, more in general, to the sound and prudent management as a condition to defend all the stakeholders (shareholders, depositors, supervisory authorities, etc.). Corporate governance in banks should help assure an efficient resources allocation and the soundness of the financial system: these are some of the reasons academic studies focus on the banking corporate governance.
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Abdul, Kadir Syed Muhamad. "A study on board of directors and organizational performance." Diss., Virginia Polytechnic Institute and State University, 1985. http://hdl.handle.net/10919/52329.
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This dissertation reports an investigation of the relationship between board strategic management functions and organizational performance. This dissertation provides a framework for understanding the influence of boards of directors in decision making, planning, control and operation, and financial performance of the firms. Based on the conceptual framework, it is argued that an effective board of directors will have a positive relationship with performance. Four hypotheses stemming from the conceptual framework were used to relate boards' strategic management functions and organizational performance.
The research was conducted in Malaysia, and the organizations used for the study were public enterprises. Forty-two firms in three industries of the manufacturing sector were selected for the study. These firms were building materials, food, and wood-based. industries. Boards' strategic management functions, the independent variables, consisted of the boards’ role in decision making, planning, control, and board operation. Organizational performance, the dependent variable, was operationalized by using financial indicators: return on assets, profit margin, average rate of growth in profit, average rate of growth in assets, and average rate of growth in sales. Correlation, multiple regression, and t-test analyses were used to confirm or reject the four research hypotheses. Besides these analyses, the dissertation provided information on the profile of the boards of directors of the three industries in six different areas: size, age, occupation, educational level, specialization, and business experience of the directors.
The findings showed that there was no consistent pattern in the relationship between board strategic management functions and organizational performance for all the three industries. The data analysis failed to support the conceptual framework which indicated that there should be a positive relationship between an effective board and organizational performance.
The results of the dissertation were discussed with respect to major findings and significance to management theory and practice. The dissertation concluded with a discussion on the limitations of the study and suggestions for future research.Ph. D.
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Neves, João Miguel Salgueiro de Sousa. "A composição do Conselho de Administração e a performance no sector dos seguros : o caso Português." Master's thesis, Instituto Superior de Economia e Gestão, 2013. http://hdl.handle.net/10400.5/6141.
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Mestrado em FinançasEste estudo pretende analisar a relação existente entre a composição do board, quer no que respeita à presença do género feminino, quer no que respeita à proporção deste e de não executivos, a remuneração do board, na dupla vertente, fixa e variável, e a performance dos seguradores sujeitos à supervisão do Instituto de Seguros de Portugal no triénio de 2010 a 2012. Para o efeito utilizou-se um modelo de regressão linear com dados em painel. Para além do modelo benchmark, no qual não foram utilizados logaritmos, foi estimado um modelo no qual as remunerações foram apresentadas como logaritmos e um outro no qual as remunerações foram excluídas. As medidas de desempenho utilizadas foram o ROA e o ROE e os resultados obtidos variam de acordo com aquelas. No que concerne ao ROE nenhuma variável se revelou estatisticamente significativa, todavia quando analisado o ROA, várias foram as variáveis que revelaram significância. No modelo de referência, a proporção de mulheres no board revelou-se com um impacto negativo, ao invés a remuneração variável demonstrou um impacto positivo. Quando se utilizaram os logaritmos das remunerações, a presença das mulheres sugeriu um impacto negativo, a proporção destas no board indicou um impacto positivo e a remuneração fixa caracterizou-se como de impacto positivo, quando se omitiram as remunerações, a presença de mulheres no board assumiu-se com impacto positivo.
This study aims to analyze the relationship between the composition of the board, with regard to the proportion of females, and non-executive directors; the remuneration of the board, both fixed and variable; and the performance of insurers that are under the supervision of the Instituto de Seguros de Portugal in the triennium 2010-2012. For this purpose we used a linear regression model with panel data to assess the hypotheses expressed. In addition to the benchmark model, which did not use logarithms, we estimated a model in which wages were presented as logarithms and another in which the salaries were excluded. The results obtained differ according to the whether the ROA or the ROE performance measure was used. No variable proved statistically significant with regards to ROE, however when ROA was analysed, there were several variables that were significant. In the reference model, the proportion of women on the board provided a negative impact, but variable compensation demonstrated a positive impact. When we used the logarithms of wages, the presence of women suggested a negative impact, the proportion of these on the board indicated a positive impact and remuneration had a positive impact. When remunerations were omitted, the presence of women on the board took up a positive impact.
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Alresheedi, Adel Dhaher Alresheedi. "The perception of stakeholders about the relationship between corporate governance and sustainability: Evidence from the Kingdom of Saudi Arabia." Thesis, Queensland University of Technology, 2021. https://eprints.qut.edu.au/211245/1/Adel%20Dhaher%20A_Alresheedi_Thesis.pdf.
Full textAbstract:
This research focused on recent significant changes introduced by the Kingdom of Saudi Arabia’ 2030 Vision, with respect to creating a larger role for the private sector in the economy and placing a new emphasis on social and environmental issues. Particularly this thesis assessed the perception of various corporate stakeholders to the new corporate governance framework as part of the KSA 2030 Vision for publicly listed companies on the three dimensions of sustainability (economy, society, and environment). The findings support the arguments in the literature that board structure and board characteristics have positive impacts on the three dimensions of sustainability.
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Scheppink, A. A. J. "Board Gender Diversity and Firm Performance: TheEffect of National Culture." Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-347192.
Full textAbstract:
This paper examines the moderating effect of national culture on the relationship betweenboard gender diversity and corporate financial performance. To test the hypotheses, FixedEffects regression is used in combination with a sample of 1,499 firms from 23 countries and7,125 firm-year observations over a time frame of seven years. This paper provides evidencefor a significant positive effect of board gender diversity on firm performance if there are atleast three females seated on the board. Furthermore, a significant moderating effect ofnational culture on the relationship between board gender diversity and firm performance hasbeen found.
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Wang, Yi. "Board independence and firm performance evidence from ASX-listed companies /." Swinburne Research Bank, 2009. http://hdl.handle.net/1959.3/66774.
Full textAbstract:
Thesis (PhD) - Faculty of Business and Enterprise, Swinburne University of Technology, 2009.A thesis is submitted for the degree Doctor of Philosophy, Faculty of Business and Enterprise, Swinburne University of Technology - 2009. Typescript. "August 2009". Includes bibliographical references (p. 161-189)
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Harvey, Henry S. (Henry Stimson). "Development of straw insulation board : fabrication methods, structure, thermal performance." Thesis, Massachusetts Institute of Technology, 1997. http://hdl.handle.net/1721.1/66784.
Full textAbstract:
Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Architecture, 1997.Includes bibliographical references (p. 66-69).
Insulation board is being fabricated and tested for use in developing countries. It is made at a low density, in the area of 5 to 10 pounds per cubic foot (80 to 160 kilograms per cubic meter), and has good thermal properties for an air based insulation, meaning R3 to R4 per inch (Btu-in/ hr-ft2-°F)-, or a conductivity of .048 to .036 W/m-K. The initial effort is to produce a straw insulation board suitable for northern Pakistan, where we are studying the needs and construction of schools and houses. Some type of rigid insulation is needed, as opposed to loose fill, because the buildings have solid masonry walls without an air gap. These boards will be suitable for other developing countries as well The initial survey of possible methods included 1) containing the straw in panels with wire and battens, 2) pulping the straw, and 3) binding with adhesive. In this latter category starch, PVA and sodium silicate were tried as adhesive using uncut and shredded straw, with various methods of application such as spraying, foaming, and dipping, at various adhesive loading rates. Small samples were formed at a range of densities to test structural and thermal properties. This survey suggested that all three of these approaches can succeed structurally and thermally, but that competing economically with existing insulation board is difficult. For boards with binder, the adhesive efficiency was poor. In the final phase of the project, a batch of boards was made at ICI Polyurethane's North American research and development facility, using methane di-isocyanate as the binder. The boards, made at a range of densities and resin contents, and using straw with and without the fine particles, were tested thermally and structurally at MIT. Good mechanical properties were obtained at resin contents as low as 2% by weight. At densities of 8 and 10 pounds per cubic foot (pcf), these boards have R values of 3.7 and 3.45 per inch, respectively. The pressure required to compress the 10 pcf boards to 10% of their original thickness is approximately 15 pounds per square inch (psi), and the modulus of rupture in bending is in the range of 50 psi. Removing the fine particles from the straw improved board strength markedly. These boards at a density of 10 pcf and 2 to 4 % resin content have an estimated materials cost of 2 [cents] per insulating unit (R-ft2), substantially less than either the cost of the expanded polystyrene available in Pakistan, or the retail cost of any rigid board insulation sold in North America.
by Henry S. Harvey, Jr.
S.M.
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Prabowo, Muhammad Agung. "The effect of board composition on firm performance in Indonesia." Thesis, Curtin University, 2010. http://hdl.handle.net/20.500.11937/835.
Full textAbstract:
The study investigates the effect of the compositions of board of directors on firm performance in Indonesia. This country offers a specific institutional environment, which provides a natural setting to further examine the effectiveness of the board in mitigating agency conflicts. The conceptual framework is derived from agency theory, assuming that the governance mechanisms affect the behaviour of contracting parties. The theory predicts that a board’s independence determines the effectiveness of its monitoring role and organizational outcome. The study presents a cross-sectional analysis of 190 non-financial companies listed on the Jakarta Stock Exchange during 2002-2004.Indonesian firms exhibit ownership concentrated in the hands of a few wealthy families and this provides them with sufficient voting rights to influence management and control decisions. Accordingly, the agency problems stem from the conflicts between controlling owners and minority shareholders as such ownership enables controlling owners to commit expropriation. The agency problem is further exacerbated by the presence of family members of controlling owners serving in management and on the boards. This study argues that the involvement in management and on the boards creates the absence of separation between management and control decisions that potentially negates the link between governance mechanisms and firm performance. This dissertation is the first to study the impact of such involvement on the association between board composition and firm performance. This provides sufficient justification that the study offers significant contribution to the governance literature as it applies to Indonesia.The Jakarta Stock Exchange officially requires that listed firms’ boards consist of at least 30% independent directors, or that the number of independent directors be proportional to the shareholding by minority investors, whichever is higher. The results show that most of the domestic-listed firms demonstrate a compliance with such regulation. However, the study fails to document a significant relationship between the fraction of outside directors and firm performance. Further testing reveals that the proportion of independent directors is insignificantly related to prior firm performance. This indicates that the inclusion of independent directors is irrespective of the agency problem specific to the firm and is merely driven by the listing requirement.The prevalence of ownership concentration by controlling families has been claimed as providing the rationale to construct a particular framework where the family serves as the unit of analysis. Although Indonesia adopts a two-tier system, such a framework implies that the substance of combined leadership might occur in Indonesia whenever a family member of the controlling owners is assigned as board chairperson. The study shows that most of the Indonesian listed firms have affiliated leadership, where in some instances the family member of controlling owners serves as board chairperson. Using the family as the unit of analysis, this finding provides undeniable evidence that combined leadership exists in the two-tier system. Independent leadership is found to have a positive relationship with firm performance, and such a relationship is robust after controlling for interdependence, measurement, linearity, and endogeneity issues. Governance reform, therefore, should address the board leadership structure that promotes board independence and, accordingly, board monitoring effectiveness.The analysis reveals that the identity of large shareholders needs to be analyzed separately. Shareholding by controlling owners is found to have a negative association with firm performance. This finding suggests that the presence of dominant large shareholdings in the hands of families is more likely to be the source of the agency problem rather than to serve as a governance device that alleviates agency conflicts. The finding implies that governance reform that seeks to reduce dominant control by the family needs to be addressed. Foreign investors demonstrate a positive relationship with firm performance. Further analysis reveals that ownership by foreign investors is the antecedent of independent board leadership. This finding suggests that this type of large shareholder induces better governance as the leadership board independent is positively related to firm performance. This suggests that Indonesia would be better off whenever a friendly foreign investor regulation is in place.This study finds that the controlling owners of Indonesian listed firms typically appoint their family members to serve in management and on the boards. The analysis reveals that such appointments create a different impact on the corporate control and firm performance. This study finds that the entrenchment effect of family involvement on the board is higher than that of such involvement in management. This finding suggests the necessity to disaggregate the family control devices. Nevertheless, such involvements provide supportive evidence that controlling owners engage in excessive control enhancing mechanisms that facilitate the extraction of private benefit with relatively ease. Accordingly, this finding implies that Indonesia needs to establish a corporate system that prevents the dominant owners from engaging in excessive control-enhancing mechanisms.
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OSullivan, Jennifer. "Corporate Governance, Performance and Risk-Taking in the U.S. Banking Industry." ScholarWorks@UNO, 2012. http://scholarworks.uno.edu/td/1521.
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In this dissertation, we first examine the relationship between performance of the bank holding company and several board characteristics. We use five proxies for bank performance including Tobin’s Q, ROA, loan loss reserve ratio, non-performing asset ratio, and net charge-offs ratio. Board characteristic variables we include are board size, proportion of outsiders, CEO power, CEO tenure and board tenure. We find that a large board enhances bank performance, as proxied by Tobin’s Q and loan quality variables. We find no evidence that board structure or CEO power influences firm performance. We see that CEO and board tenure have a positive effect on firm performance. We further employ a crisis dummy during the period 2007 through 2009 to determine if the relationships between firm performance and board characteristics changed during the crisis. Our crisis results show us that board size has a negative effect on Tobin’s Q and the non-performing asset ratio during the crisis. Further, we find that board structure decreases the non-performing asset ratio during the crisis.
We next examine the relationship between risk-taking of the bank holding company and several board characteristics. We use four accounting based proxies for bank risk-taking including credit risk, liquidity risk, capital ratio and operational risk. We also use three market based proxies for bank risk including market beta, idiosyncratic risk and the standard deviation of its stock return. Board characteristic variables we include are board size, board independence, CEO duality, CEO tenure and board tenure. We find that a large board reduces both balance sheet and market risk. We further investigate the relationships between risk-taking and board characteristics changed during the financial crisis of 2007-2009. We find that our results are robust during the crisis.
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Martin, John A. "The school board and self-evaluation: do school boards in the Commonwealth of Virginia evaluate their own performance?" Diss., Virginia Tech, 1996. http://hdl.handle.net/10919/39163.
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School boards are the governing bodies for school divisions. Their successful
operation is essential to the success of the school division. "Best practice", as
indicated in the literature, calls for school boards to recognize the need to examine or
assess their own performance and to set the criteria or goals by which they will
evaluate their performance and to create a composite of strengths and weaknesses in
relation to the criteria they set for themselves. Boards should design or select
evaluation instruments which reflect local performance criteria and instruments that are
open ended so that other items may be included as board members desire. The
development of objectives for the improvement of the boards' performance should be
based on an evaluation of themselves discussed and agreed to in a regularly
scheduled annual meeting with a facilitator and site for the event predetermined.
Finally, the process should be focused on the board as a body; not on the individual
board members.
This study solicited information describing the practices of school boards in
Virginia relative to evaluation of themselves as boards and compared those practices
with literature-based "best practice." Defining "best practice" was accomplished by reviewing educational literature
on the practice of board evaluation. The literature was screened for components
recommended as required in effective school board self-evaluation. Components
recommended as effective practice were determined to be 'Ibest practice."
The questionnaire was designed in two sections. The first grouping of
questions on the survey was to identify the divisions where school boards practiced
self-evaluation. Subsequent queries, in section two, gathered information that would
allow description of the practices used by school boards who practiced self-evaluation.
Section two, also, posed questions regarding the boards' use of procedures that were
determined to be components of "best practice".
A survey questionnaire was mailed to the superintendents of all 132 school
divisions in Virginia inquiring about their board's practices of evaluating their own
performance. Responses were received from 128 of the 132 divisions, a 97% rate of
return. Only forty-one (32%) of the responding school divisions reported having
school boards that evaluate themselves.
Are school boards in the Commonwealth evaluating their own performance?
The major findings of this study indicate that most school boards in Virginia,
more than two out of three, do not practice school board evaluation. School boards
in Virginia that allege participation in the practice of school board evaluation do not
use many of the components of self-evaluation recommended as "best practice".
School board evaluation is used less often in those divisions of medium size than in
other divisions and less often in those divisions associated with counties as their
governing units than in other divisions associated with other types of governing units.Ed. D.
25
Schmidt, Inga Merit. "Board Gender Diversity and Firm performance: How do Educational Levels and Board Gender Quotas affect this Relationship? Evidence from Europe." Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-377175.
Full textAbstract:
The majority of previous research in the field of board diversity was dedicated to the direct link between board gender diversity and firm performance. Grounded in Agency- and Resource dependence theory, this thesis expands on this research and examines the main relationship including the influence of two additional factors: educational level of female directors and mandatory board gender quotas. Analyzing a sample of 454 European firms (3,871 firm-year observations) over the period 2007-2017, a positive relationship between board gender diversity and firm performance is found. Furthermore, the results suggest that educational levels or board gender quotas do not affect this relationship. The effects on firm performance differ depending on whether legislative measures or voluntary initiatives are in place, i.e. in contrast to legislative quotas, voluntary initiatives enhance firm performance.
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Tariq, Usman. "CEO Compensation : Relationship with Performance and Influence of Board of Directors." Thesis, Gotland University, School of the Humanities and Social Science, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:hgo:diva-644.
Full textAbstract:
This paper tries to find the relationship between the compensation given to the chief executive officer and the performance of the company. Further, it tries to determine the influence of the size of the Board members on the pay scale of the executive. The data consisted of the largest thirty companies in Sweden for the period of 2004-2008. After controlling for firm size and growth opportunities, I find a negative and insignificant relationship between pay and performance. Contradictory to previous studies no correlation between large board size and chief executive officers compensation was found. This paper adds more empirical evidence to the idea of chief executives pay being independent of his performance.
27
Yu, Mei. "Board structure and firm performance : empirical evidence from Chinese shareholding companies." Thesis, University of East Anglia, 2009. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.520271.
Full text
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Wu, Ai-lin, and 吳艾琳. "Board Intellectual Capital, Board Independence, and Corporate Performance." Thesis, 2012. http://ndltd.ncl.edu.tw/handle/75154201331882186074.
Full textAbstract:
碩士國立中央大學
人力資源管理研究所
100
Compared to western countries, Taiwan governor and corporates are still in the beginning in corporate governance area, so we gathered all Taiwan companies that total assets above $15 billion NTD in 2012 to be our sources. We have five variables: sex, tenure, shareholding ratio, educational background and busy level, and use board independence to be the moderator. Our research wants to discuss the relationship among board intellectual capital, board independence, and corporate performance. We use regression analysis to receive the outcome, and our research has two hypotheses: Hypothesis 1: Board intellectual capital and corporate performance have a positive correlation. Hypothesis 2: When board tends to control and supervise, board independence has a positive effect in the relationship between board intellectual capital and corporate performance; when board tends to provide resources to company, board independence has a negative effect in the relationship between board intellectual capital and corporate performance. According to our research, we found the hypothesis 1 tested to be correct, so the results showed that there exists a positive correlation between board intellectual capital and corporate performance. Besides, the research outcome also showed that Taiwan companies’ board tend to provide resources, not to control and supervise, so board independence affects negatively in the relationship between board intellectual capital and corporate performance.
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Chuang, Sheng Ju, and 莊昇儒. "The influence of board attributes on board performance– Perspectives on the functions and roles of boards." Thesis, 2005. http://ndltd.ncl.edu.tw/handle/32489344266109209480.
Full textAbstract:
碩士東海大學
企業管理學系碩士班
93
In recent years, since many known commercial enterprises successively and unexpectedly encountered some financial crisis, even closed down or went bankrupt, the issue of running a business has gradually been brought out and focused on by the academic and business communities.The board of a company is one of the keys to run the business best. Therefore, whether or not the board takes good responsibilities, plays the role properly and maintains the major investors’ advantages is people’s biggest concern. In the past, there are a lot of literatures indicate that board have many attributes and the issues all focus on the relationship with the financial performance. However, some of scholars think it makes mistake with out of the logic. Before we discuss the relationship between board attributes and financial performance, it’s more important that we should realize the relationship between board attributes and board performance first. After analyzing and discussing, this study find out the two factors that family directors and CEO duality will obstruct the development of the company and cause the board of directors can’t control and supervise the company effectually. The higher rate of the outside directors, it’s not guarantee the board of directors can play control roles properly. The board need a properly meeting frequency to make their role expressed.At last, if high level of board involvement, no matter what resources board of directors can provide or lead in, even if supervise the company or develop the company strategy, there will be some contributions to the company definitely.
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Tsai, Hsiang-Yu, and 蔡祥鈺. "Busy Board, Attendance of Board Meetings and Firm Performance." Thesis, 2015. http://ndltd.ncl.edu.tw/handle/2zh8c9.
Full textAbstract:
碩士國立高雄應用科技大學
會計系
103
The observation of each corporate Board of Director member showed that some supervisors also serve as director and supervisor in more than one companies; many people worry poor performance would exist in the play of the Board of Director due to diversified part-time duties that these directors and supervisors have to bear which increased degree of busy life. Therefore, this study had a discussion on the oversight capacity of the Board of Directors. For purposes of examining this part, this study adopted attendance in the Board of Directors Meeting as proxy variables of oversight capability. In addition, directors’ attendance in the meeting also may affect the company's performance. If so, when attendance is caused by degree of busy, thereby affecting the company's performance, there will be endogenous problems, thereby affecting judgment of correlation; therefore, this study had further discussion on endogenous relationship between attendance in the Board of Directors and company's performance. The empirical results showed that when a director/supervisor had too many part-time duties as directors and supervisors in other companies, it would distract time and effort, thereby failing to have an active participation in the decision-making process in the Board of Directors Meeting. In addition, the empirical results from two stage least squares method (2SLS) which discussed correlation between attendance and company performance showed that there was positive relationship in between after considering the impact the degree of busy participation in the Board of Directors Meeting on the attendance.
31
Chang, Feng-Ying, and 張鳳瑩. "CEO Turnover and Board Performance." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/53508787989541486479.
Full textAbstract:
碩士元智大學
管理研究所
98
The effect of agency problem has always been an ad hoc issue for both practitioners and academic researchers as the family-owned firms in Taiwan separate their ownership and control of their firms. However, since most of the family-owned firms’ CEO in Taiwan might still be one of the members in the board of directors of his/her firm nowadays, therefore, the aim of this study is trying to focus whether the agency problem between shareholders and managers would decrease under the strong supervision of board of directors. By examining the correlation between the performance of firms, different regulations of corporate governance and the CEO’s turnover, the result evidence that there is a significantly negative relation between CEO’s turnover and the performance of firms which indicates that the lower the firm’s performance, the higher the replacement of CEO. Further, the evidence also states that once the CEO, with large shares of the firm, is also a chairman of that, then the chance of CEO’s replacement is lower.For those CEOs’ firms with bad performance, who also possess large shares of the firms, might have much power to protect themselves from the chance of replacement which implies that the board of directors is ineffective in the case of family-owned firms in Taiwan.
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WANG, SHAO-MIN, and 王紹民. "Board Diversity and Acquisition Performance." Thesis, 2019. http://ndltd.ncl.edu.tw/handle/vz5fw3.
Full textAbstract:
碩士國立中正大學
財務金融系研究所
107
We examine the impact of board diversity on company acquisition activities. Using a multidimensional measure, we find that directors with different skills have a higher tendency to execute M&A decisions. We then separately examine the effects of board diversity on short-term and long-term acquisition performance. Every coin has two sides, the diversity of a board allows directors to have more ideas to improve company performance, and it can also lead to excessive communication costs. Although the relation between announcement returns and board diversity is not strong enough, we find that long-term operating performance is actually affected by board diversity, and the relation is positive and significant.
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HSIANG, CHENG JUI, and 鄭睿翔. "Board Leadership Style and Corporate Performance." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/80885378352499779402.
Full textAbstract:
碩士國立屏東科技大學
企業管理系所
99
In recent years, due to the implementation of corporate governance, independent directors are becoming more and more important and have a certain influence in company’s performance. The study conducts an empirical analysis on the relationships between the CEO duality and the company performance, the impact of CEO duality in the high proportion of independent directors environmental on corporate performance and the impact of CEO duality in the dynamic environment of high environmental performance on company’s performance. The results indicate that CEO duality and the ROE, ROA have significantly negative correlations There is no correlation between CEO duality in the high proportion of independent directors environment and ROE & ROA, CEO duality in the high proportion of independent directors and Tobin's Q environment was positively correlated. CEO duality in high ambient dynamic environment with ROE&ROA has a significant negative correlation. CEO duality in high ambient dynamic environment with Tobin's Q has no correlation.
34
Matlala, Rebone Edith. "Board gender diversity and financial performance." Diss., 2012. http://hdl.handle.net/2263/26512.
Full textAbstract:
There is much debate amongst academics regarding the contribution of women on corporate boards, particularly, the effect on financial performance. There has been a stride post democracy to ensure equality in South Africa. Although there has been progress, the percentage of women on corporate boards is still microscopic. The purpose of this study was to examine the effect of board gender diversity on financial performance of publicly listed companies. Similar studies have been conducted in other countries with equivocal results implying that results are country-specific. Quantitative research methodology was employed, where financial ratios ROE, ROA and Tobin's Q, of companies with gender diverse boards were compared to those of companies whose boards are not considered gender diverse. Gender diverse boards are defined in this study as boards with 25 percent or more female representation on boards. Differences in financial performance of companies with gender diverse boards across industries were also examined. ROE and ROA mean scores were higher for the gender diverse group, whereas, mean scores of the market-based ratio Tobin‟s Q were higher in the group whose boards were not gender diverse. Market-based results are subjective and influenced by investors and analysts perceptions. Tobin‟s Q was higher in industries with lower percentages of women on boards; however, these results were not statistically significant.Dissertation (MBA)--University of Pretoria, 2012.
Gordon Institute of Business Science (GIBS)
unrestricted
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葉小嘉. "Board director turnover and firm performance." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/39866794565056871823.
Full textAbstract:
碩士國立政治大學
會計研究所
98
This paper examines the determinants of board director turnover behavior and whether board director turnover signals the firm performance of subsequent period. The empirical findings show that board director of firms with poor firm performance and high institution ownership are more likely to have turnovers. While there is no relationship between the frequency of board director turnover and improvement in firm performance.
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Chia-Hui, Yu, and 余佳惠. "A study in board structure, busy boards and performance: evidence from Taiwan banks." Thesis, 2014. http://ndltd.ncl.edu.tw/handle/57301779007443295390.
Full textAbstract:
碩士輔仁大學
企業管理學系管理學碩士在職專班
102
We study whether the board structure and busy boards are related to the banks' performance. Based on a sample of 39 banks, we find that banks with large boards and lower number of meetings are associated with performance. After controlling for the systemic relevance of banks in our sample, we find that board size, busy boards, boards’ sex, educational background, attendance rate is especially important, while there is no evidence for board independence. Overall, our results reveal the specialness of banks corporate governance mechanisms.
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Chang, Yun-Lung, and 張雲龍. "The correlation of Board Diversity, Environmental Performance and Financial Performance." Thesis, 2013. http://ndltd.ncl.edu.tw/handle/38536476420014667147.
Full textAbstract:
碩士淡江大學
會計學系碩士班
101
This article for the Japanese market enterprises to adopt the economic consequences of different environmental strategy, as well as members of the board trait diversification will strengthen the results. In this paper, the Nikkei 500 constituent stocks as the research object, the research period during the 2006-2010 years, using Panel Data analysis to test the hypothesis. Empirical results of this article found that that the low-carbon revenue strategy will obtain the positive economic consequences, On the contrary, paying attention to disclose the environmental management is waste enterprise resource. However, according to the theory of groups diversity, such as the board of directors has diversified traits. Will be show more widely vision and pluralistic the pipeline in order to solve the problem, leads supervision ability rise, decline in agency costs. We have found when the implementation of low-carbon revenue strategy, the board diversity will strengthen the economic consequences. Further testing found that the higher proportion of outside directors and director’s age distribution more widely, the effect is more enhanced; On the contrary, when the disclosure by the implementation of environmental management, wasting resources is not compensation because of board diversity. Of the contribution of this paper, look forward to make up the lacking for information about Japanese companies environmental management strategies, financial performance and the board diversity, and provide the useful information about green competitive.
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Lin, Fang-Ju, and 林芳如. "The Impact of Ownership Structure, Board Size and Board Composition on Firm Performance." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/vb2mha.
Full textAbstract:
碩士長榮大學
企業管理學系碩士班
98
This article examines the interrelations among ownership structure, board size, board composition and firm performance in a sample of listed companies in Taiwan for the period from 2004 to 2008. Using two-stage least squares (2SLS) regressions, we present evidence of interdependencies between board composition and board size. These findings suggest that cross-sectional Ordinary Least Square (OLS) regressions of performance on a single governance mechanism may be misleading. The results from OLS regressions indicate a significantly positive relationship between firm performance and board size or board composition, but a significantly negative relationship between performance and ownership structure. However, when the simultaneous equations framework is applied, we find a significantly negative relationship between performance and board size or ownership structure but no significant result for board composition. To enhance the robustness of results, ROA and ROE are both adopted as alternative performance measures and consistent results are found as that with Tobin’s Q.
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Peng, Chen-Mei, and 彭成美. "Board Diverse and Firm Performance Associated ─ the Effectiveness of the Board as mediator." Thesis, 2012. http://ndltd.ncl.edu.tw/handle/98577349052677906287.
Full textAbstract:
碩士國立中央大學
人力資源管理研究所碩士在職專班
100
Board committee is the top decision unit among the corporate governance, if the committee can operate effectively with appropriated function implementation, then it will benefit the company operation and generate long term profit. In the past, the researchers were more focus on the relationship between board structure and firm performance, the purpose of this study implies board operation and function, trying to understand the attributes will promote board effectiveness, which in turn influence corporate financial performance. A total of 459 questionnaires were sent and 66 effective returns were received. This work surveys the publicly company excluding the financial and insurance company in Taiwan. The methods used including descriptive statistics, correlation analysis and regressions methods. The results showed that board diversity was positively related to firm performance, furthermore, board effectiveness was positively related to firm performance.
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Li, Ya-chiu, and 李雅秋. "Organizational Characteristics, Board Size and Corporate Performance." Thesis, 2006. http://ndltd.ncl.edu.tw/handle/33953043869285330072.
Full textAbstract:
碩士國立中正大學
會計所
94
The board of directors is the highest decision-making mechanism of the company and plays a vital role in the corporate governance structure. Its operation efficiency brings long-term benefits to the company. Hence, many board-related issues have been eagerly debated. The prior literature seems to suggest that a smaller board size can reduce coordination costs and increase decision-making efficiency, resulting in higher performances. Therefore, reducing board size has gradually become the trend. However, a small board may not suit all companies. When a company has more complex organizational characteristics or dependents more on outside resources, a larger board will provide higher quality of professional consultation and bring the critical resources to the company. Accordingly, from the role of board consultation, this research tries to assess the relationship between the board size and organizational characteristics and how the fit affects the corporate performances. The research sample contains 2634 firm-year data, which consist of 616 Taiwanese public companies during year 2000 to 2004. The organizational characteristics are hypothesized to include operating complexity and dependence on outside resources. Operating complexity is measured by firm size, degree of diversification and degree of internationalization; while dependence on outside resources is measured by the degree of leverage. Finally, ROA and Tobin’s Q are utilized to measure the company performance. The empirical results indicate that：（1）When the firm size gets larger or the company operates to a higher degree of diversification, the board size will increase with greater demand of consultation from the board.（2）For the companies with high degree of diversification, higher degree of internationalization or high degree of leverage, the company performances are positively associated with the board size. Taken together, the research shows that for companies with high operating complexity or high dependence on outside resources, a larger board is beneficial due to a greater demand from board consultation.
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Chang, Ming-Huang, and 張銘煌. "Fund Manager Replacement,Board Structure and Performance." Thesis, 1998. http://ndltd.ncl.edu.tw/handle/45442341068905764539.
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碩士輔仁大學
金融研究所
86
Abstract In the U.S. mutual fund market, the board must have 40% independent directors, and the fund investors have rights to approve their members . But, the corporate governance of the boards in Taiwan''s funds do not have the above mechanism. In additions, the tenure of the incumbent of fund managers in Taiwan is lower than that in U.S., because mutual fund industry in Taiwan is growth and there are many new funds management company and funds. Managers could be bid away by other fund companies or relocate to a new fund within the same company. This study analyses the relationship between board structure and the performance of funds management company. Furthermore, this study investigates the relationship between performance and manager replacement, and tests whether the performance will be significant higher after managerial replacement. The sample of this study includes the 19 funds management company and 66 closed-end and open-end mutual funds for the period of March 1995 to February 1998. The empirical results are summarized as followed: (1) In the period of September 1995 to March 1997, there is a negative relationship between the probability of managerial replacement and past fund performance. In the period of March 1997 to February 1998, there is a positive relationship between the probability of managerial replacement and past fund performance. The possible explanation might be that the managers could undertake the excessive portfolio risk to obtain better performance. They can be bid away by other fund companies or relocate to a new and large fund within the same company. (2) The performance of managerial replacement between the precedent one year (half year) and subsequent one year (half year) is not significant different. Besides, those overperforming managers tend to relocate to a new and large within the same company , however that would cause the agency problem between the funds management company and investors.(3) There exists a positive relationship between the percentage of foreign institutions seating on the board and the performance of funds management company. The foreign institutions may play an important role on the board because of the supporting investment consultant and fund managers'' portfolio governance.
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Tung, Po-Ya, and 董博雅. "Board Composition, Investment Policy and Firm’s Performance." Thesis, 2008. http://ndltd.ncl.edu.tw/handle/77923974967234571284.
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碩士雲林科技大學
財務金融系碩士班
96
This study regards the listed firms in Taiwan as the study objects to exam the relation of board of directors’ composition towards the firm’s operating performance; and also, investment decision variables are added so as to understand whether the difference of board of director’s composition would have influence towards the relationship between the firm’s investment decision and operating performance. The empirical research period is from 2002 to 2006. Since the data is time-series and cross-sectioned, LM test and Hausman test are used to examine the suit model. The test result shows that random effect model is best. The empirical result shows that both of the board of directors’ size and the board chairman’s dualism all have significant explain power towards the firm’s investment decision and operating performance. Generally speaking, the composition of board of directors would really influence the levels of the company’s investment decision and operating performance.
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Hsiao, Yu-Hsuan, and 蕭雨萱. "Board control, Managerial pay, and Firm performance." Thesis, 2012. http://ndltd.ncl.edu.tw/handle/16250961704996016920.
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碩士國立中央大學
人力資源管理研究所
100
The purpose of this study is to discuss the interaction between board control, managerial pay, and firm performance. By using five board control variables, including (1)CEO duality; (2)The ratio of inside directors; (3)The ratio of board stock ownership; (4)The institutional ownership; (5)The level of director compensation, we would like to understand the different extent of interaction between board control, managerial pay and firm performance. By doing so, we would like to provide information for firms about how to construct the managerial pay in order to maximize board, top managers, and firms’ benefit. The hypothesis in this study was tested by using a sample of 628 Taiwanese Listed Companies in 2009 to 2010. Linear Structure Relation (LISREL) was used as an analysis method in this research. We hope that the results in this study can provide a different view on the determinants of managerial pay, and can benefit firms’future related decision. The results indicate that: In All 628 Taiwanese Listed Companies, the board control not only can directly influence managerial pay, but also indirectly influence firm performance through managerial pay. However, the positive relationship between board control and firm performance does not indirectly influence managerial pay. For large-scale companies, board control can have direct influence on managerial pay, and then it can directly influence firm performance. This influence of board control exercised directly on managerial pay is more effective than its indirect influence on managerial pay through the direct influence it has on firm performance. And for small-scale company, although the board control cannot directly and effectively effect managerial pay, it can have indirect influence on managerial pay through the direct influence it has on firm performance. According to our results, we suggest that board control is not the only effective way to control managerial pay, and confirm that the managerial pay serve as a key role in corporate governance. Therefore, companies must design suitable compensation incentive systems for top managers, in order to motivate them to do their best for the company. And also, the board needs to carefully monitor managerial compensation, in order to push them to and make decisions really aligned with corporate interest. Furthermore, the board may need to assess the proper compensation level for top managers according to firm performance.
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Lu, Cai-Ling, and 呂采玲. "Board composition and ownership effect on firm performance." Thesis, 2007. http://ndltd.ncl.edu.tw/handle/tkv3yr.
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碩士銘傳大學
財務金融學系碩士班
95
Some of listed companies in Taiwan experienced financial crisis these years. And they induce the further necessity of corporate governance. To this point, this study tries to find whether the control intensity of board of directors affects the firm performance, and also tests the influence of independent directors. Next, this study tries to explore the further determinants of board control. The results show that the board size, the management director ownership ratio and the ratio of inside directors positively associated with the board control intensity. Besides, they also have positively effects on the corporate operating performance includes ROA or ROE. Finally, the independent directors factor will associate positively with ROA, but companies with independent directors won’t improve the whole performance more than without them before.
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CHUANG, MEI-LING, and 莊美玲. "Characteristics of Board, Ownership Structure, and Corporate Performance." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/rng6aw.
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碩士長榮大學
經營管理研究所
105
Using a large sample of firms listed on Taiwan Exchange Stock and Taipei Exchange for the period 2002–2015, this study examines the effects of board characteristics and ownership structure on corporate performance. The empirical results suggest that in the board characteristics the board ownership and seats of independent board are associated positively with corporate performance; in ownership structures the managerial, institutional, and ultimate controlling owners’ shareholdings are positively related to corporate performance. Further, this study consolidate the variables in the two board character and ownership structure into two comprehensive board and ownership index and find the effect of comprehensive ownership index on corporate performance for all samples and electronics industry is greater than the effect of comprehensive board index on corporate performance. After consolidate all variables in board characteristics and ownership structure into unique corporate governance index, this study documents the unique corporate governance index and corporate performance is positively related. Finally, the empirical results show link between corporate governance index and corporate performance is less profound for family firm than the nonfamily firms. Keyword: board characteristics, ownership structure, corporate performance
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Hsu, Mei-chih, and 徐美智. "Ownership Structure, Board Composition and Company Financial Performance." Thesis, 2008. http://ndltd.ncl.edu.tw/handle/vq5935.
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碩士東吳大學
國際經營與貿易學系
96
Following the 1997 Asian financial crisis, the issue of corporate governance and how to reinforce an enterprise’s corporate governance to avoid financial scandals have turned out to be a crucial topic studied by related research institutes and become the global limelight. The study conducts an empirical panel data analysis by using data accumulated from TSEC and OTC-listed banks from 1996 to 2006, and uses multiple regress method to analyze family shareholding, foreign investor shareholding and director as well as supervisor share pledge status in Taiwan’s banking industry, and probes the relationship between the important corporate governance variables regarding the internal and external director and supervisor scales and a bank’s operating performance. In the aspect of operating performance measurement, return of assets (ROA), return of equity (ROE), and non-performance loan ratio (NPL ratio) are used as the performance measurement variables. On top of it, factors including bank scales, bank experience values (the length of establishment), financial holding banks or state-run banks, and year dummies have all been taken into account. The empirical results show that foreign investor shareholding and family shareholding have positive influence on bank’s operation performance, whereas director/supervisor share pledge and supervisor scale result in negative influence on the performance, the seats of directors show a significant level against NPL ratio, and internal as well as external supervisors have negative influence on the performance. Bank’s corporate governance has positive influence on its operating performance, which is consistent with the expected change direction as shown in relevant literature. In terms of control variables, it is also found that, as impacted by the Asian financial storm along with the domestic credit card storm, the profit status in Taiwan’s banking industry had turned worse since 1999. However, the NPL rate had significantly lowered since 2003, which illustrates the success of the first financial reform. Nevertheless, there is no significant variance in the operating performance of financial holding or private/public banks and bank scales. In the conclusion of this study, recommendations are put forth to the banking industry and competent authorities as a reference.
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Chu, Kuan-hua, and 朱冠華. "The Analysis of Board Agenda and Firm Performance." Thesis, 2007. http://ndltd.ncl.edu.tw/handle/nuf2b4.
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Hsu, Jui-Yang, and 徐瑞陽. "Board size and hotel firm performance in Taiwan." Thesis, 2014. http://ndltd.ncl.edu.tw/handle/u7s92x.
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碩士國立中正大學
財務金融研究所
102
This study examines the impact of board size on financial performance of publicly traded tourist hotels in Taiwan. The indicators of financial performance under consideration are return on assets (ROA), return on equity (ROE), stock return (SR), and Tobin’s Q (TQ). This study uses GMM estimator in order to deal with the problems of unobserved heterogeneity and endogeneity in the corporate governance literature. Subsequently, GMM estimator examines the effects of board size (BS) on financial performance of Taiwanese tourist hotels. Test results suggest that BS explains ROA and TQ, but not ROE and SR. Specifically, an inverted U-shape represents the effects of BS on hotel performance (ROA and TQ), indicating that BS has a significantly positive impact on hotel performance up to an optimal point (supporting the resource dependence theory). Further, when BS is greater than their corresponding optimal points, the factor can significantly deteriorate hotel performance (supporting the agency theory).
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林貞吟. "Board expertise and the variability of corporate performance." Thesis, 2009. http://ndltd.ncl.edu.tw/handle/64492798385165155564.
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碩士國立政治大學
會計研究所
97
Firm’s performance and its related risks are critical information for investors and creditors to make investment and lending decisions. In recent years, Taiwan Stock Exchange and Gretai Securities Market implemented requirements on board members’ expertise. This study examines whether board’s expertise would affect the effectiveness of the board and further have impacts on firm’s risks, proxied by the variability of corporate performance. I also include corporate operating characteristics (such as advising needs and R&D intensity) to investigate whether these characteristics would affect the relationship aforementioned. The empirical results indicate that board members’ financial expertise is positively associated with the variability of Tobin’s q. After including firm operating characteristics, I find that for firms with greater advising needs and higher R&D intensity (less advising needs and lower R&D intensity), board members’ accounting expertise is negatively (positively) associated with the variability of stock return and Tobin’s Q, board members’ law expertise is positively (negatively) associated with the variability of Tobin’s Q, and with more financial experts on the board, the firm experiences greater variability of Tobin’s Q.
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FU-MEI, LIANG, and 梁富梅. "RELATIONSIP AMONG BOARD STRUCTURE, INTERLOCKING DIRECTORS AND PERFORMANCE." Thesis, 2007. http://ndltd.ncl.edu.tw/handle/65108358462298117701.
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博士國立臺北大學
企業管理學系
95
The primary objective of corporate governance is to reduce agency cost, and furthermore, take the advantage of environmental opportunities and threats through the interlocks of boards by the Resource Dependence Theory. A company’s board of directors is at the core of corporate governance. Although literature on boards and firm performance is quite rich, little of it is concerned with inter-organizational relationship. Therefore, the study aims to examine the relationship between board structure and firm performance, and by the mediating role of interlocking directorates, to realize the direct effect and indirect effects of board structure and firm performance. In the past, the empirical results of relevant studies about board structure and firm performance are quite different. The first reason is ignoring the mediating role, and not splitting the outside directors into affiliated directors and independent directors is the second reason. This study intends to understand the effects of the policy about independent directors promoted by Securities & Futures Institute. So there are three variables about board structure: board size, affiliated directors and independent directors. As for the interlocking directorate, there are two variables: intra-industry interlocks and inter-industry interlocks. This study adopted 2005 data on 277 Taiwanese public electronic firms. The data came from annual reports and TEJ. In order to examine the structure of interlocking directorates in Taiwanese electronic firms, the study used UCINET VI . The hypotheses are tested using multi regression models and structure equation model (Lisrel 8.30). Empirical results are summarized as follow: (1). The board size and affiliated directors are not related to firm performance, but independent directors are positively related to firm performance. Hence, independent directors can effectively monitor managers. What’s more, by the mediating role of board interlocks, independent directors allow the firm access to productive resources and information. (2).As predicted, board structure is an important antecedent to board interlocks, especially affiliated and independent directors. Outside directors have rich social network s and resources. (3). In addition, the results demonstrate that different kinds of interlocks have different impacts to firm performance. Because Taiwanese electronic firms cooperate intensively, intra-industry interlock is significantly and positively related to firm performance, whereas inter-industry interlock is not significantly related to firm performance.