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Najib, Roya. "Women on New Zealand corporate boards." Thesis, University of Canterbury. Accountancy, Finance and Information Systems, 2008. http://hdl.handle.net/10092/877.
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Replicating and extending Singh and Vinnicombe (2006), the primary problems addressed in this research are: What factors influence women's attainment of corporate directorships? And what are the proportions of female executive and non-executive directors and CEOs in New Zealand? Executive directors are company employees who attain board directorships via progressing through CEO and other top management roles; therefore, this study included an investigation of the proportion of women in executive and non-executive director and CEO roles in New Zealand companies. To understand women's non-progression to corporate boards, 11 male and female directors were interviewed. Contrary to international research findings, the majority of interviewees in this study emphasised the importance of networks in attaining corporate directorships in New Zealand. Explanations for women's under-representation on corporate boards included lack of networks, family commitments, pipeline theory, lack of aspiration for power, career choices, risk adversity, male organisational culture, discrimination and women's unsuitability for director roles. Archival analysis indicated that of a total of 1366 corporate directors, women constituted 88 (6.44%) directorships. Women held 64 non-executive (4.69% of total directorships), 23 executive (1.68% of total directorships) and one alternate directorship. The findings indicated that there were only five women CEOs and only five out of a total of 240 New Zealand corporate boards achieved gender equality. Social identity theory was used to provide insight into this change resistant phenomenon.
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Ahmed, Ammad. "Women on Corporate Boards: Determinants and Consequences." Thesis, Griffith University, 2017. http://hdl.handle.net/10072/365944.
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In early 2000’s, the epidemic of accounting scandals such as Enron, WorldCom, OneTel, and HIH has raised investors’ concerns about the effectiveness of corporate governance mechanism in all types of organizations. In Australia, being one of the most developed stock markets in the Asia-Pacific region, policy makers are unceasingly working towards the advancement of the ASX Corporate Governance Principles and Recommendations. In an attempt to improve governance mechanism, the ASX Corporate Governance Council in 2010 amended the ASX Corporate Governance Principles and Recommendations to include enhanced reporting on gender diversity on corporate boards. This study is motivated by the argument that better corporate governance can be achieved through restructuring and cleaning up the boardroom (Cheng, 2003; Park and Shin, 2003). Moreover, it has been found that women are likely to improve the monitoring mechanism of a firm (Adams and Ferreira, 2009) and enhance information environment (Gul et al., 2011) than men are. Given the importance of women on corporate boards, this study seeks to find the determinants and some consequences of women on corporate boards.Thesis (PhD Doctorate)
Doctor of Philosophy (PhD)
Griffith Business School
Griffith Business School
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Roberts, Sharon. "Exploring How Women on Corporate Boards Cope With Gender Bias." ScholarWorks, 2018. https://scholarworks.waldenu.edu/dissertations/4885.
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Gender bias may cause organizations to lose the values that women bring to the workplace in leadership positions and may thwart women from reaching their personal goals. The purpose of this qualitative descriptive multiple case study was to explore gender bias and its influence on women on corporate boards, their roles, appointment, and the need to develop coping strategies to deal with gender bias to execute their roles. The conceptual lens used was Tajfel and Turner's social identity theory to explain the basis for intergroup discrimination, and Eagly and Karau's role congruity theory of prejudice to explain the exclusion of women from corporate boards as a result of gender bias. The research question focused on identifying gender bias and experiences of women on a corporate board. Social media and snowball sampling were used to recruit 6 English-speaking women on corporate boards who had experienced gender bias at the time of their appointment and in their roles on corporate boards in the public and private sectors in provinces and territories throughout Canada. Data sources included interviews, journaling, and analysis of physical artifacts such as government reports and databases of women on corporate boards. Using Yin's 5 phases of analysis, the study identified 7 emergent themes in the data sources: discrimination, harassment, organizational climate, well-being, disruption, empowerment, and leading. The study's potential for positive social change resides within its potential to promote the internal transformation of women as they deal with bias. Men also need an improved understanding of their perceptions of women in the governance structures of society to help reduce gender bias toward women.
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Bhardwaj, Sneh. "Manifestation of token behaviours on corporate boards; a qualitative study." Thesis, Federation University Australia, 2021. http://researchonline.federation.edu.au/vital/access/HandleResolver/1959.17/183609.
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As boards are central to organisational performance, an ineffective board functioning has long remained a matter of concern among corporate governance researchers, board practitioners, policy makers and the media not only in India – the context of this study – but also across the regions of Asia-Pacific, Africa, Europe, and the Americas. An important aspect of boards’ ineffective working concerns directors’ token board behaviours. This debate in corporate governance circles however continuously adheres to a gender/minority-focused approach, attributing token board behaviours to the gender of minority directors on corporate boards (i.e., women directors). The study aims to examine, firstly, the selection process and criteria for corporate board directors’ appointments in India. Secondly, this thesis examines how the quota appointees are being recruited, integrated, and treated by corporate boards in India, to explain the ensuing participation of quota appointees. The third contribution is (from the third and fourth study aims) a more nuanced explanation of token board behaviours of Indian men and women directors (beyond the commonplace explanation of token board behaviours based on the number of minority directors on corporate boards) from an in-depth examination of directors’ board conduct. The research draws on three theories. Firstly, the resource dependence theory (RDT) lens is used to review the literature on board appointments. RDT supports an argument that board composition impacts board processes, dynamics, and culture, and vice versa. Secondly, the token theory, which identifies the inclusion of minority groups as a perfunctory gesture, is used as a putative explanation for effective/ineffective board participation of directors. Thirdly, the institutional theory is applied to examine the findings related to directors’ quota-based board appointments in response to institutional pressures, namely, coercive, normative, and mimetic. An interpretative phenomenological approach informs this study’s research design. I developed four research questions and, to answer these, conducted twenty-seven semi-structured interviews with Indian board directors to obtain first-hand narration of lived experiences in this context. The findings indicate that a majority of directors consider the pre-, during and post-meeting board dis-engagement, impaired board culture, poorly structured board processes, lacunae in director selection including those of the law-supported women directors and board inexperience of directors as determinants of token behaviour on boards, rather than attributing this understanding to the gender of board minorities alone. These results provide an enhanced understanding of token behaviours manifested by board directors. In so doing, new proposals for restructuring directors’ selection processes, quota law’s implementation, directors’ board roles and boards’ internal functioning are offered. The research has implications for regulators, companies, and governments attempting to enhance the corporate governance effectiveness of corporate boards by putting an end to directors’ token behaviours.Doctor of Philosophy
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Bushell, Merly A. "Women on boards : the role of social capital and networking in corporate board director selection processes." Thesis, University of Warwick, 2015. http://wrap.warwick.ac.uk/73307/.
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There remains a paucity of women in both executive and non-executive director roles in British boardrooms. This research explores how far this is explained by differences in levels of social capital and networking activities between men and women seeking boardroom positions. While it is known that social capital is important at junior and middle management levels (with existing research showing that the quality of men’s and women’s networks differ, and that women are not able to leverage their networks to the same extent as their male colleagues) no rigorous academic research on this issue has been conducted specifically at corporate board level, largely due to the difficulty of securing access to respondents. This thesis addresses the gap in the literature by drawing on data gathered from 82 semistructured interviews with Chairs, head-hunters and aspiring or recently appointed male and female directors. The research questions asked: what is the role of social capital and networking in corporate board selection processes; how far can Human Capital Theory, Preference Theory, Attribution Theory and Self-Efficacy explain the lack of progress of senior women to board level roles?; do aspiring female directors have poorer quality networks and less social capital than their male peers; why might this be; and are female aspiring directors as willing and able to leverage their social capital as their male peers. The findings affirm the importance of social capital theory in relation to selection to boardroom roles. Preference Theory, Human Capital Theory and Attribution Theory and Self-Efficacy are not found to explain the lack of promotion of senior female executives to board director positions. Other key contributions include insights into board director selection processes, the effectiveness of regulatory and voluntary codes, and gender differences in networking and job seeking activities of aspiring directors.
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Kies, Friederike [Verfasser]. "Cracking the Glass Ceiling: Women on Corporate Boards in Germany and China / Friederike Kies." Berlin : Freie Universität Berlin, 2020. http://d-nb.info/1213725119/34.
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Stojanac, Sanja, Helena Nguyen, and Daniella Baubec. "Women on the Corporate Board in Sweden." Thesis, Jönköping University, JIBS, Business Administration, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-13077.
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Women are often predominated in so-called "women´s jobs" including nursing, teaching and administration while jobs such as manager, board of director and financier are dominated by men. Hence, the corporate board has been male-dominated. However, in recent decades the number of women entering the boardroom has increased. Women are aware of their opportunites in terms of managerial jobs. Nevertheless, Sweden has one of the highest levels of gender equality in the world. Women with business experience and education are steadily moving upp the corporate ladder. The importance of female directors´ contributions on the corporate board has been recognized. The purpose of this thesis is to investigate how women contribute on the corporate board in Sweden. The focus of the study lies on the perspectives of female and male directors. The study was conducted with the use of a qualitative method. It provided us with an understanding of the subject based on respondents´ experience. In order tol fulfill the purpose, eight semi-structured interviews were conducted with male and female directors on the corporate board in Sweden. The empirical data was analyzed by the process of qualitative data analysis (QDA). We have increased the knowledge of female directors´ contributions on the corporate board in Sweden. Female directors do not posses a profound understanding of female customers. There is a strong link between female representatives and enhanced board communication. Furthermore, there is no relation between female directors and companies´ involvement in charitable activities. There is no difference in the way female and male directors monitor the board.
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Bertilsson, Marcus, and Johan Nylander. "Kvotering i bolagsstyrelser : Finns det en påverkan på bolagens lönsamhet?" Thesis, Högskolan Dalarna, Företagsekonomi, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:du-30766.
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Syfte: Syftet är att undersöka om tvingande kvotering kommer att ha en effekt på ROA och tillväxt för svenska bolag noterade på Large Cap. Metod: Studiens metod är kvantitativ och har en deduktiv ansats. Författarna har gjort multipla regressionsanalyser i statistikprogrammet Stata. Teoretisk utgångspunkt: Public Interest Theory, Capture Theory, Tvingande Isomorfism, Legitimitetsteorin och Humankapitalteorin. Resultat och slutsats: Studien finner inte att andelen kvinnor i bolagsstyrelser har någon påverkan på bolagens finansiella prestationer i svenska bolag som är noterade på Large Cap, Nasdaq Stockholm. Studien finner att nyval i styrelsen har en negativ påverkan på bolagens finansiella prestationer.Purpose: The purpose is to investigate whether mandatory quotas will have an effect on ROA and growth for Swedish companies listed on Large Cap. Method: The study method is quantitative and has a deductive approach. The authors have performed multiple regression analyzes in the statistical program Stata. Theoretical starting point: Public Interest Theory, Capture Theory, Coercive Isomorphism, Legitimacy Theory and Human Capital Theory. Result and conclusion: The study does not find that the proportion of women in corporate boards has any impact on the companies' financial performance in Swedish companies listed on Large Cap, Nasdaq Stockholm. The study finds that election on the board has a negative impact on the companies' financial performance.
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Bathula, Hanoku. "Board characteristics and firm performance evidence from New Zealand : a thesis submitted to Auckland University of Technology in fulfilment of the requirements for the degree of Doctor of Philosophy (PhD), 2008 / Hanoku Bathula." Full thesis Abstract, 2008. http://hdl.handle.net/10292/376.
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Due to various corporate scandals and failures, there has been a renewed interest on the role of boards in the performance of firms. This thesis examines the relationship between the key board characteristics and firm performance. Unlike most studies on boards which predominantly use only financial variables affecting governance, I take a different approach by combining them with non-financial variables. This combined set of variables is used for theoretical and empirical modelling. Based on the extant literature, I develop a conceptual framework and a set of hypotheses to examine the relationship between board characteristics and firm performance. Board characteristics considered in this research include board size, director ownership, CEO duality, gender diversity, educational qualification of board members and number of board meetings. Additionally, I use board size as a moderating variable to examine how the effect of other board characteristics is contingent on board size. Firm performance is measured by return on assets. I test my hypotheses on a longitudinal sample of 156 firms over a four year period from 2004 to 2007. My sample includes all firms listed on New Zealand stock exchange as on November 2007. Empirical analysis is undertaken using Generalised Least Squares analyses. The findings of the study show that board characteristics such as board size, CEO duality and gender diversity were positively related with firm performance, where as director ownership, board meetings and the number of board members with PhD level education was found to be negatively related. Board size was found to be moderating some of these relationships, indicating the critical role being played by board size in the design and role of corporate boards. The findings also provide partial evidence to different governance theories, further indicating the need for theoretical pluralism to gain insights into boards’ functioning. The study contributes to the understanding of board-performance link by examining both the traditional variables such as board size, CEO duality, and number of board meetings as well as other organisational attributes such as gender diversity and competence variables represented by women and PhD holders, respectively. The theoretical framework and the findings of my thesis are expected to stimulate scholars for further research to identify the contingency conditions upon which the board characteristics and firm performance may be dependent.
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Grosvold, Johanne. "Where are all the women? : institutional context and the prevalence of women on the corporate board of directors." Thesis, University of Bath, 2009. https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.507230.
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Al-Ramahi, Fatima, and Ehsan Alkhatib. "Gender diversity and corporate sustainability disclosures in Swedish listed companies : A quantitative study examining female representation on boards and in the CEO role and their effects on corporate sustainability disclosures." Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-447593.
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This study investigates the relationship between female representation, women as chief executive officers, and corporate sustainability disclosures in Swedish listed companies. The used data was collected from the Swedish listed companies in Nasdaq Stockholm for the period 2017-2020. The specific research period is due to the new amendments of the Swedish Annual Accounts Act (Årsredovisningslagen) which came into force 2017. To investigate the effect female representation, and women as chief executive officers have on the legally issued corporate sustainability disclosures, this study applies content analysis and quantitative methods. By estimating multiple regression models, the results revealed a non-significant relationship of female representation on the board of directors and of women as chief executive officers, on the quality of corporate sustainability disclosures. For the critical mass of at least three women, a non-significant impact is detected. Lastly, an additional test for reversed causality has been conducted, however no significant relationship was documented.
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Carlsson, Julia, and Olsson Sofia Bergbom. "ESG-score och styrelsen : Svenska företags hållbarhetsredovisning, könsdiversifiering och styrelsepositioner." Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-447479.
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The main purpose of this study is to investigate whether board diversity and women in a leading position (CEO or chairman of the board) have an impact on a firm’s ESG-score. To investigate whether a larger share of women on the board of directors have a positive impact on a firm’s ESG-score observations were made on firms that were listed on the Stockholm Stock Exchange during the years 2015-2019. Secondary data has been used and retrieved from Thomson Reuters Eikon database and some of the data has been manually retrieved. A regression analysis with fixed effects was conducted to measure the possible link between ESG-score and women on corporate boards and women in leading position. The results from the regression indicate that women on corporate boards are positively affecting the firm’s ESG-score but no link between ESG-score and women in leading position was found. The study’s findings contribute to the literature about women on corporate boards and sustainability reporting.Könsdiversifiering och hållbarhetsfrågor är två aktuella ämnen som företag bör beakta i sin dagliga verksamhet. Uppsatsen undersöker sambandet mellan företagens hållbarhetsarbete, könsdiversifiering bland styrelsemedlemmar och kön i ledande position. Uppsatsens observationer genomförs på svenska företag som är noterade på Stockholmsbörsen under perioden 2015–2019. Datan som används har samlats in från Thomson Reuters Eikon databas, men även hämtats manuellt från respektive företags årsredovisning och hållbarhetsrapport. De svenska företagens hållbarhetsarbete mäts i form av ett ESG-score, vilket är ett mått på hur företaget arbetar med hållbarhet i miljö-, sociala- och styrningsfaktorer. För att undersöka sambandet så genomförs multipla regressionsanalyser med hjälp av fixed effects model. Även t-tester har genomförts för att ytterligare undersöka sambanden, samt korrelationsanalyser för att undvika spuriösa samband. Den beroende variabeln har varit ESG-score och oberoende variabler har varit GEND som visar andelen kvinnor i styrelsen, samt GILP som dummy variabel som visar om det finns en kvinna i någon av de ledande positionerna (verkställande direktör eller styrelseordförande). Det resultat vi finner utifrån analyserna visar på att det finns ett positivt signifikant samband mellan företagets ESG-score och andelen kvinnor i styrelsen. Resultatet är i linje med majoriteten av tidigare studier som genomförts inom ämnesområdet, resultatet kan även förklaras utifrån intressentmodellen. Utifrån resultaten finner vi inget resultat som visar på ett positivt samband mellan ESG-score och kvinnor i ledande position. Uppsatsens syfte är att bidra med kunskap kring de båda ämnesområdena, hållbarhetsrapportering och könsdiversifiering i företagsstyrelser.
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Ekehov, Petra, and Julia Lindgren. "Har kvinnor i styrelsen och CSR-arbete en motverkande effekt på uppkomsten av resultatmanipulering? : En kvantitativ studie om relationen mellan ansvarstagande och resultatmanipulering vid företagsförvärv med stock swap." Thesis, Högskolan i Gävle, Företagsekonomi, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:hig:diva-24356.
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Syfte: Resultatmanipulering är ett opportunistiskt beteende som förekommer i samband med företagsförvärv. Incitament för förvärvande företag att resultatmanipulera kan variera beroende på om det finns motverkande mekanismer i bolagsstyrningen. Forskare har tidigare poängterat att ansvarstagande är en motsats till opportunistiskt beteende och att ansvarstagande är en utmärkande egenskap för kvinnor och något som karaktäriserar CSR-arbete. Syftet med aktuell studie är därför att undersöka om CSR-arbete i bolagsstyrningen och andelen kvinnor i styrelser minskar förekomsten av resultatmanipulering ett år innan ett företagsförvärv med stock swap. Metod: Studien antar ett positivistiskt perspektiv med en hypotetisk-deduktiv ansats. Sekundärdata har inhämtats från databasen Thomson Reuters Eikon och Thomson Reuters Datastream genom ett kvantitativt tillvägagångssätt. En tvärsnittsstudie har designats och urvalet har slutligen analyserats i multipla regressionsanalyser med hjälp av Excel och statistikprogrammet IBM SPSS. Resultat och slutsats: Studien visar att CSR-arbete minskar förekomsten av resultatmanipulering inför företagsförvärv, vilket studiens litteraturundersökning givit anledning att förvänta. Däremot finner vi inget signifikant samband mellan andelen kvinnor i styrelser och resultatmanipulering inför företagsförvärv. Förslag till fortsatt forskning: Studier som undersöker samband mellan CSR och andra opportunistiska beteenden än resultatmanipulering. Vi skulle även önska studier som till större grad tar hänsyn till vikten av antalet kvinnor närvarande i styrelser för att påvisa kvinnors utmärkande egenskaper. Allra helst i samband med incitament för resultatmanipulering. Uppsatsens bidrag: Ur ett teoretiskt perspektiv bidrar denna studie genom att diskutera och empiriskt undersöka samband mellan kvinnor, CSR och resultatmanipulering. Studien bidrar även med ett alternativt sätt att undersöka CSR i kontrast till tidigare forskning som främst använt ESG poäng. Ur ett praktiskt perspektiv bidrar studien med information som kan vara viktig för målföretag som står inför att bli uppköpta och intressenter i analyser av aktievärden.Aim: Earning management is an opportunistic behavior that occurs in conjunction with acquisitions. Earnings management incentives for acquiring companies may vary depending on whether there are counteracting mechanisms in corporate governance. Researchers have previously pointed out that responsibility is a contradiction to opportunistic behavior and that responsibility is a distinctive feature of women and something that characterizes CSR work. The purpose of the current study is therefore to investigate whether CSR work in corporate governance and the proportion of women in boards reduces the incidence of earning management one year beforea company acquisition with stock swap. Method: The study is based on the philosophy of positivism with a hypothetical deductive approach. Secondary data have been retrieved from the Thomson Reuters Eikon database and Thomson Reuters DataStream database through a quantitative approach. A cross-sectional design isused and the sample has been analyzed in multiple regression using Excel and the IBM SPSS statistics program. Result & Conclusions: The study shows that CSR work reduces the incidence of earning manipulation prior to acquisitions, which the study's literature survey gave reason to expect. However, we do not find a significant relation between women in boards and earning management prior to company acquisitions. Suggestions for future research: Studies that investigate the relationship between CSR and other opportunistic behaviors than earning management. We would also liketo see studies that take greater account of the importance of the number of women presented in boards to show women's distinctive qualities. Mainly in connection with incentives for earning management. Contribution of the thesis: From a theoretical perspectivethis study contributes by discussing and empirically investigating relationships between women, CSR and earning management. The study also contributes with an alternative way of investigating CSR in contrast to previous researchthat is primarily using ESG points. From a practical perspective, the study contributes with information that may be important for target companies that are facing acquisitions and stakeholders in stock value analysis.
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Todorovic, Mirjana, and Cathrine Åstrand. "Ökad kvinnorepresentation i styrelserummen : Påverkan och strategier." Thesis, Södertörns högskola, Institutionen för samhällsvetenskaper, 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-19661.
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Syftet med denna studie har varit att utreda och föreslå strategier för hur bolagsstyrelser kan öka sin mångfald och bli mer diversifierade. Vidare var syftet att undersöka och presentera hur styrelsearbetet skulle påverkas av den ökade diversifieringen. Vi har utfört en kvalitativ studie och använt intervjuer för datainsamling. Det insamlade empiriska materialet har sedan analyserats med utgångspunkt i de valda teorierna. I våra slutsatser kommer vi fram till att styrelsesammansättningen påverkar beslutsfattandet och att en ökad diversifiering ger positiva effekter på styrelsearbetet. De alternativa strategier som presenteras är att kvinnor måste lära sig maktspelet och söka sig till jobb där de har resultatansvar. Det näringslivet kan göra är att få ledningen att jobba aktivt med dessa frågor genom exempelvis belöningssystem. Valberedningarnas arbetssätt bör övervakas och kontrolleras i syfte att säkerställa att en utredning har skett på ett adekvat sätt. Staten kan skapa incitament genom skattereduktioner eller genom att agera i form av en stor inköpare som erbjuder värdefulla kontrakt.This study aims to present and propose strategies on how corporate boards can become more diversified by increasing the representation of women. Furthermore we will investigate how the composition of corporate boards affects the decision making process. This thesis has a qualitative approach and the results are based on data from interviews. The conclusions of this paper are that greater diversification in the composition of corporate boards affects the decision making process in a positive way. The strategies proposed are that it is necessary for women to learn the power game and to have a position with responsibility over results. The companies have to get their management to actively work with this issue through reward systems. The work of the nominating committees should be monitored to ensure that the adequate method is used when nominating the directors. Our last conclusion is that the government can create incentives by tax reductions or by using their role as an important purchaser that offers valuable contracts.
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Sila, Vathunyoo. "Essays on corporate boards." Thesis, University of Edinburgh, 2015. http://hdl.handle.net/1842/25971.
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This thesis comprises three empirical studies. These studies can be read as though they are independent. However, all three of them revolve around investigating whether and how characteristics of directors can affect firm-level outcomes. The first study – “Does gender diversity affect firm equity risk?” – systematically investigates whether gender diversity in the boardroom influences firm equity risk. To identify the causal effect of gender on risk, I employ a dynamic model which allows for the possibilities that risk can influence the gender of appointed directors and that both director gender and risk can be influenced by other unobserved firm-level factors. The overall results in this study do not support the view that female boardroom representation influences equity risk. I also show that findings of a negative relationship between the two variables are spurious and driven by unobserved between-firm heterogeneous factors. The second study – “Spillover effects of women on boards” – introduces an alternative way of looking at boardroom gender diversity. The definition of boardroom gender diversity is broadened to include female directors who do not sit on the board but are connected to the board through male directors or “external” female influence. This is in addition to the “internal” influence of female directors inside the board. I find that when both external and internal influences of female directors are considered, there is evidence supporting a link between gender diversity and firm risk and that a plausible channel by which gender affects risk is through more effective monitoring. Male directors are less likely to exhibit absenteeism when they are exposed to both external and internal female influence. CEO turnover sensitivity increases with the proportion of male directors who are externally connected to women, when there is at least one female director inside the board. Risk also increases with the proportion of these connected men when they work on a board with at least one woman. The findings suggests that female directors can exert influence on firm-level outcomes despite their minority status in the boardroom. The third study – “Independent director reputation incentives and stock price informativeness” – examines whether the reputation incentives of independent directors increase the incorporation of firm-specific information into stock prices. I find that the proportion of directors who deem their directorships to be more important based on firm market capitalization is associated with higher firm-specific information content in stock prices. This is consistent with the argument that boards that are incentivized to protect their reputation can deter managers from withholding information. I find this relation to be stronger when other external monitoring mechanisms are weak and when there is uncertainty regarding the future prospects of the firm. I also find evidence that a channel by which directors can influence stock price informativeness is through voluntary disclosure. Additionally, the presence of directors with high reputation incentives is negatively associated with stock price crash.
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Alves, Susana Alexandra Camilo. "A evolução da presença de mulheres nos conselhos de administração : o caso português." Master's thesis, Instituto Superior de Economia e Gestão, 2015. http://hdl.handle.net/10400.5/11191.
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Mestrado em Contabilidade, Fiscalidade e Finanças EmpresariaisEste trabalho tem como objetivo estudar a evolução e o impacto da presença de mulheres no nível de desempenho financeiro das empresas cotadas na Euronext Lisbon, num período de dez anos (2005 a 2014). Neste sentido, foram analisados os potenciais fatores determinantes da presença de mulheres nos conselhos de administração, nomeadamente, a dimensão do conselho de administração, a idade e a dimensão da empresa e as perspetivas de crescimento da empresa. Também se analisou o possível impacto da presença das mulheres no desempenho das empresas, utilizando o ROE, ROA e Q de Tobin. Relativamente à presença de mulheres nos conselhos de administração, a percentagem passou de 5% em 2005 para 10% em 2014. Quanto à presença de mulheres nos conselhos de administração, aos resultados sugerem que existe uma maior probabilidade da sua presença, em empresas com mais elementos no conselho, maior ROE, menor Q e menor dimensão da empresa. Na proporção de mulheres nos conselhos de administração, os resultados indicam haver uma maior percentagem de mulheres em empresas com maior ROE e menor Q. Em relação ao impacto da presença de mulheres no desempenho financeiro das empresas verificou-se que, a presença de mulheres no conselho de administração tem um impacto positivo no ROE e um impacto negativo no Q de Tobin. No que se refere à proporção de mulheres no conselho de administração, esta tem um impacto positivo na ROE.
The purpose of this work is to study the evolution and the impact of women's presence in the financial performance level of firms listed on Euronext Lisbon, over a period of ten years (2005-20014). Therefore the potential determinants of women's presence on boards were analyzed, namely, the size of the board, the firm's age, firm size, sales growth and financial performance (measured by ROA, ROE and Tobin's Q). It has also been analyzed the possible impact of women on firm's performance, using ROE, ROA and Tobin's Q. Regarding women's presence on boards, the percentage increased from 5% in 2005 to 10% in 2014. The results suggest that there is a greater likelihood of women's presence on boards, in firms with more members on the board, higher ROE, lower Q and lower firm size. As for the proportion of women on boards, the results indicate that there is a higher percentage of women in firms with higher ROE and lower Q. In relation to the impact of women's presence on the firm's performance it was found that the presence of women on the board has a positive impact on ROE and a negative impact on Tobin's Q. Concerning the proportion of women on boards, it has a positive impact on ROE.
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Hinrichsen, Anna Verena Verfasser], Dirk [Akademischer Betreuer] Schiereck, and Anette von [Akademischer Betreuer] [Ahsen. "Corporate governance and strategic personnel management: women on the board and female leadership, CEO overconfidence, layoff decisions ; capital market perception and shareholder wealth effects / Anna Verena Hinrichsen ; Dirk Schiereck, Anette von Ahsen." Darmstadt : Universitäts- und Landesbibliothek Darmstadt, 2017. http://d-nb.info/1126644323/34.
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Hinrichsen, Anna Verena [Verfasser], Dirk [Akademischer Betreuer] Schiereck, and Anette von [Akademischer Betreuer] Ahsen. "Corporate governance and strategic personnel management: women on the board and female leadership, CEO overconfidence, layoff decisions ; capital market perception and shareholder wealth effects / Anna Verena Hinrichsen ; Dirk Schiereck, Anette von Ahsen." Darmstadt : Universitäts- und Landesbibliothek Darmstadt, 2017. http://nbn-resolving.de/urn:nbn:de:tuda-tuprints-60201.
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Elander, Jacob. "Does Boardroom Gender Diversity Affect Firm Financial Performance? : A quantitative study surveying 32 Swedish companies over the years 2011-2014." Thesis, Linnéuniversitetet, Institutionen för nationalekonomi och statistik (NS), 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-75058.
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The board of directors holds a key position in corporate governance. The board is responsible for the strategy and development of the firm. The gender composition of the board can affect the quality of this operating procedure by changing the dynamic of the group. This paper aims to investigate if there is any relationship between board gender diversity and the firm’s financial performance, as measured by Tobin’s Q. While most of the previous studies in this field has been conducted on US data, this study adds to a growing number of articles outside of the US by using Swedish data. The study uses panel data over the years 2011-2014 and finds no statistically significant link between gender diversity and a firm’s financial performance. This study adds to the minority of articles that argue that gender diversity does not affect performance. Limitations regarding the methodology is presented and strategies for future research is discussed.
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Latham, Jillian Anne. "Gender Quotas for Corporate Boards: Attitudes and Progression." Thesis, Curtin University, 2022. http://hdl.handle.net/20.500.11937/89364.
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This constructivist-interpretivist research examined actors’ attitudes towards the prospect of legislated gender quotas for ASX200 boards in Australia. Thematic analysis demonstrated ongoing resistance towards board gender diversity, a preference for maintaining the status quo, and limited desire for structural change. A stark polarisation between actors who support and oppose board gender quotas was uncovered. These findings advance the board diversity literature and have implications for the progression of board gender composition in Australia.
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Ojebode, Aderemi Abayomi. "Learning in boards : a grounded theory study of UK boards of directors." Thesis, University of Wolverhampton, 2017. http://hdl.handle.net/2436/621209.
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Boards of directors have been described as an integral part of corporate governance research, being at "the apex of the internal control system" (Jensen, 1993, p.862). Early corporate governance research has examined whether, and to what extent, board characteristics impact on performance. However, the results of studies that focused on board structure/composition and performance produced mixed outcomes. Consequently, we saw the emergence of research on board processes and their impact on board task performance. Research on board processes is still ongoing, and scholars have been interested in, among other processes, how knowledge and skills by board members are being used (Gabrielsson and Huse, 2004; Kor and Sundaramurthy, 2009). At the same time, there is a gap within educational research on how knowledge is being created within teams that are episodic in nature, such as boards (Forbes and Milliken, 1999). As such, the concept of learning has to date been under-researched in a board context. In this thesis, board processes are studied by exploring the processes involved in the acquisition and sharing of knowledge and skills in boards. Further, as a response to calls for the adoption of alternative research approaches to the study of boards (Pettigrew, 1992; Johnson et al., 1996), this research is conducted using a qualitative method based on a grounded theory approach. The study is conducted based on evidence from semi-structured interviews with UK board members. The findings show that the creation of knowledge in boards depends on two dialectical processes of learning (acquisition of knowledge and skills from the external environment and sharing of knowledge and skills in the internal environment). The qualitative findings show that 1) directors possess certain levels of knowledge related to specific boards task – which is also known as directors’ knowledge base; 2) the gap between the level of knowledge and skills needed to perform specific board tasks and the directors knowledge base is regarded as a gap in directors’ knowledge; 3) that there are two processes of filling the gap(s) in directors’ knowledge – the process of acquiring knowledge and skills (from the external environment), and the process of sharing knowledge and skills within the board; 4) that there are factors which are impacting on the processes of acquiring and sharing knowledge in boards; and 5) the processes of learning in boards are circular and board members must continually update their knowledge to enhance their capabilities. The thesis contributes to knowledge by revealing new insights into how board members acquire knowledge and skills (processes of learning) and factors that are impacting on learning in boards, underpinning former conceptual models. Qualitative analysis itemised different types of processes for both acquiring and sharing knowledge and skills in boards. Additionally, the qualitative analysis revealed various forms of learning styles that are being employed by board members either to acquire or share knowledge and skills. Finally, this thesis contributes to qualitative research in boards and its findings have implications for board practice, especially boards’ tasks performance and processes of learning.
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Smith, Gavin Stuart Banking & Finance Australian School of Business UNSW. "Corporate governance: issues related to executive compensation, corporate boards and institutional investor monitoring." Publisher:University of New South Wales. Banking & Finance, 2008. http://handle.unsw.edu.au/1959.4/40820.
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This dissertation contains five research projects within the context of two distinctive issues that concern the effectiveness of executive compensation in aligning executive interests with shareholders and how institutional investors play a role in structuring corporate governance mechanisms. The objective of this dissertation is to first determine how institutions should exert their influence if they are serious about alleviating agency problems and improving firm performance. Second, the thesis seeks to determine whether institutional investors use their influence to shape executive compensation and corporate governance mechanisms in a manner consistent with aligning managerial interests with shareholders and increasing shareholder wealth. The thesis finds that CEOs with option incentives increase the likelihood that a firm will increase risk by undertaking both major real investments and acquisitions. Moreover, CEO option grants are positively related to measures of firm valuation and operating performance suggesting option incentives are an important mechanism to align CEO interests with shareholders. This is robust to alternative measures of firm valuation and operating performance, also various estimation techniques. Using these findings to motivate the direction of institutional influence on executive compensation, it is found that institutional investors, particularly smaller activist traders, significantly increase option grant incentives received by executives. Institutional influence also raises CEO pay which is consistent with preservation of reservation CEO utility levels. Addressing the role of institutional investors in the context of other corporate governance mechanisms, it is found that institutional investor influence is also negatively related to board size and positively related to board independence, which is achieved by removal of inside directors. Such actions are consistent with empirical studies that show smaller boards and increased levels of independent directors improve firm performance and board decision making. The main conclusion from this dissertation is that option incentives are an effective mechanism to align CEO interests with those of shareholders. Institutional investors appear to recognise this importance, and effectively use their influence to increase options received by executives. Combined with institutional investors putting in place corporate boards that provide better oversight of management, institutional investors appear to be effective monitors of the firms in which they invest.
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Jain, Ravi. "Essays on boards of directors /." free to MU campus, to others for purchase, 2004. http://wwwlib.umi.com/cr/mo/fullcit?p3144425.
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Msomi, Duduzile. "Factors affecting women representation on boards of directors." Diss., University of Pretoria, 2006. http://hdl.handle.net/2263/23659.
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The objective of this report is to understand the factors that hinder and those that facilitate the representation of women on boards of directors in South African companies. The insights gained on the obstacles and facilitators in achieving greater representation of women on boards of directors will give companies and individuals actionable knowledge of the key success factors and strategies that can be applied to increase representation. A literature review was done in order to apply existing theory to the research problem. The researcher‟s objectives were to answer three research questions. The methodology for the research is then described. Qualitative research was used with the research instrument being in-depth interviews. Twenty three face-to-face interviews were held with board members, executive search companies, an organisation that trains boards of directors and a women‟s professional body, using a semi-structured questionnaire. Seven respondents completed the questionnaire only. Interviews were transcribed and content analysis performed on them to extract recurring themes related to the questions asked. The results of the interviews are then presented and interpreted. The findings are that there are no conscious or deliberate attempts to keep women out of the boardroom. The factors affecting women representation on boards of directors can be attributed to the interplay of historical and cultural factors that have resulted in women not being top of mind when appointing board members. Legislation is playing an effective facilitation role, but the extent of transforming this trend, in a meaningful way and not just to be compliant, in an equal opportunities environment in which South African companies presently operate, depends on the „natural diversity insights‟ (the natural consciousness to want to do the right thing) of the shareholders, chairpersons, CEOs and/or the nomination committees who play a huge role in either recommending or making the final decision on new board appointments.Dissertation (MBA)--University of Pretoria, 2006.
Gordon Institute of Business Science (GIBS)
unrestricted
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Cau, Tommie, Anna Rehnström, and Carl-Johan Vilsson. "Internationalization of Corporate Boards - and the rationals behind it." Thesis, Jönköping University, JIBS, EMM (Entrepreneurship, Marketing, Management), 2006. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-508.
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Background: During the past ten years an increasing trend of international representation in Swedish boards, referred to as board internationalization, has occured. Figures show that in 1994 foreign board members held 3,4% (Sundin & Sundqvist, 1995) of the seats in Swedish companies boards, today that figure is 14,2% (Fristedt & Sundqvist, 2005). This trend seems to continue as the nominations of this year is streaming in. Although this trend occurs Swedish business press is questioning why not more foreign directors are being appointed members to board (Almgren, 2006). Fahim (2005) also questions this and argues that companies need to realise that there is a profitability perspective on the subject of diversity. In many of the large Swedish companies the absence of foreign directors is noticed, but there is a few in the forefront which have appointed foreign directors. The reasons for internationalizing a board can be different and it interesting to investigate how forefront companies discuss internationalization in general and which reasons in particular that drives board internationalization.
Purpose: The thesis' purpose is to investigate the main rational for board internationalization.
Frame of reference: In the frame of reference, four possible influences on the internationalization of the board is presented, in order to be discussed and compared to the empirical findings; corporate governance, ownership structure, stakeholder pressure, and competitive advantage.
Method: In order to fulfill the purpose, a qualitative research method is chosen, based on in-depth interviews. The sample consists of ten interviews with chairmen of Swedish boards within companies that are represented by at least one foreign board member.
Conclusion: We have concluded that the main rational of board internationalization is the search for competitive advantage, which is believed to be created by a board with diverse competences and networks. Regarding ownership structure, foreign private owners are the only ones that are influencing the internationalization. Both the corporate governance development and the stakeholder pressure are identified in the empirical findings, but not believed to be an influence of internationalization.
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Chan, Tak-ching Catherine, and 陳德貞. "Corporate governance of some statutory boards in Hong Kong." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1995. http://hub.hku.hk/bib/B31266356.
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Chan, Tak-ching Catherine. "Corporate governance of some statutory boards in Hong Kong /." Hong Kong : University of Hong Kong, 1995. http://sunzi.lib.hku.hk/hkuto/record.jsp?B14723074.
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Weerasinghe, Liyana Arachchige Ashesha Paveena. "Cultural diversity and Indigenous participation on Australian corporate boards." Thesis, Queensland University of Technology, 2021. https://eprints.qut.edu.au/207760/1/Liyana%20Arachchige%20Ashesha%20Paveena_Weerasinghe_Thesis.pdf.
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This study explores Indigenous Australians’ participation on Australian corporate boards and investigates how Indigenous Australians pursue listed firm directorships, confirming their significant under-representation. A content analysis of Reconciliation Action Plans of listed firms reveals the existence of organisational initiatives to support the future leadership of Indigenous Australians. Through semi-structured interviews with Australian business leaders, perceptions of cultural diversity and pathways for Indigenous Australians to ASX directorships are detailed. Interview participants’ perceptions are organised under current status, views, and recommendations to improve cultural diversity. Key pathways to directorships are skills and experience, education and training, reputation, networking, and organisational support.
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Kyereboah, Richard. "Criteria For Appointing Board Members to Corporate Boards in Ghana." Thesis, University of Phoenix, 2018. http://pqdtopen.proquest.com/#viewpdf?dispub=10833995.
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The purpose of this qualitative exploratory case study was to explore and find out the criteria that leaders of corporate boards in Ghana consider in appointing non-executive directors. Twenty for-profit corporations made the sample size for interviews and observations. The researcher conducted in-depth interviews with convenient and willing board chairmen. The interviews involved open-ended questions about competencies and qualifications looked for in board member candidates. Data from secondary sources such as curriculum vitae of existing non-executive board members were reviewed to validate data. The QSR NVivo 8 software product was used to code and analyze the research data into themes. QSR is a software package that analyzes data for themes in words, sentences, or paragraphs of electronic written data, often discovering themes the human eye could miss. Nine themes emerged representing criteria considered in selecting and appointing non-executive directors. The criteria identified were independent mind, expertise and experience, availability of the prospective appointee, entrepreneurial orientation, proving integrity, leadership orientation, good academic background, networking advantage, and trusted friends. The results of the research may ensure the appointment of right persons to corporate boards for good corporate governance in Ghana and high profitability in organizations. The Ghana government may incorporate in the corporate governance regulations standard criteria for appointment of non-executive directors to all boards of organizations.
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Maidorfer, Thomas, and Werner H. Hoffmann. "Effectiveness of Supervisory Boards: 5 Crucial Factors." WU Vienna University of Economics and Business, 2013. http://epub.wu.ac.at/3854/1/EffectivenessOfSupervisoryBoards_5Crucial_Factors_final.pdf.
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In recent years the field of corporate governance has been characterized by an increasing effort to gain a better understanding of the role of boards for the financial performance of a firm. The present study thereby searches to build upon the small but growing literature that focuses particularly on boards in a two-tier system. It extends the current knowledge about the effectiveness of supervisory boards by measuring the interaction of board work and firm performance and illustrates the differences and similarities between the one-tier and the two-tier system in this context. It moreover highlights the advantages of testing board effectiveness in a dualistic system and enriches our current understanding on how various board characteristics at once impact the financial performance of a firm. (authors' abstract)Series: Working Papers / Institute for Strategic Management
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Petherick, LeAnne. "Jumping the boards : making decisions about playing female hockey /." Thesis, National Library of Canada = Bibliothèque nationale du Canada, 1999. http://www.collectionscanada.ca/obj/s4/f2/dsk1/tape8/PQDD_0034/MQ47466.pdf.
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Höppner, Martina. "Advisory boards in German family companies at different life cycle stages /." [S.l. : s.n.], 2006. http://www.gbv.de/dms/zbw/520527542.pdf.
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Nguyen, Duc Duy. "Boards, CEOs and bank behavior : regulatory and performance perspectives." Thesis, University of Edinburgh, 2015. http://hdl.handle.net/1842/25973.
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This thesis consists of three essays on the performance implications of senior decision-makers in the banking industry. While the first chapter looks at one aspect of bank performance from a regulatory perspective, the next two chapters study performance from an investor perspective. The first chapter uses regulatory enforcement actions issued against US banks to show that both board monitoring and advising are effective in preventing misconduct by banks. While better monitoring by boards prevents all categories of misconduct, better advising prevents misconduct of a technical nature. Board monitoring increases the likelihood that misconduct is detected, increases the penalties imposed on the CEO, and alleviates shareholder wealth losses following the detection of misconduct by regulators. This chapter offers novel insights on how to structure bank boards to prevent bank misconduct. The second chapter seeks to understand how the characteristics of bank executives affect the market performance of US banks. To explore the expected performance effects linked to executive characteristics, the changes in the market valuation of banks linked to announcements of executive appointments are estimated. The chapter shows that age, education and the prior work experience of executives create shareholder wealth while gender is not linked to measureable value effects. Furthermore, these wealth effects are moderated by the level of influence of incoming executives, with their magnitude diminished under independent boards and higher if the incoming executive is also appointed as CEO. The results are robust to the treatment of selection bias. This chapter contributes to the current debate on whether and how individual executives matter for firm performance. The findings also shed light on the value of human capital in the banking industry. The third chapter explores how the cultural heritage of senior decision-makers affects bank outcomes. To study cultural heritage, this chapter focuses on US-born CEOs who are the children or grandchildren of immigrants. Using a hand-collected dataset that tracks the family tree of US bank CEOs, it is shown that the cultural characteristics prevailing in the country of a CEO’s ancestors influence firm performance under pressure. How CEOs respond to competitive pressure is driven by specific cultural dimensions and is causally related to corporate policy choices. To establish causality, I use variation in industry competition generated by a quasi-natural experiment, the staggered adoption of barriers to US interstate branching in the 1990s. I also use an out-of-sample test using a non-banking competitive shock, the Canada-United States Free Trade Agreement, and find robust results.
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Kvardová, Kateřina. "Ape Boards." Master's thesis, Vysoké učení technické v Brně. Fakulta výtvarných umění, 2012. http://www.nusl.cz/ntk/nusl-232353.
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Ape Boards is my own newly formed label, which manufactures snowboards and kiteboards. For this thing I have proposed a substantial logotype, which has a function as a unifying element across the whole brand and designs boards. Website (www.apeboards.com). A first collection of snowboards and kiteboards from which I had made 7 pieces for a thesis. Designs do not 'mass' lust, because the objective is not a big production or promotion, but based on what I liked. From the minimalism through the color geometry to the gorillas, according to which the brand was named.
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Gidlund, Alexander, and Tommy Lund. "The Norwegian Gender Quota Law and its Effects on Corporate Boards." Thesis, Umeå universitet, Företagsekonomi, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-137476.
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This paper has examined which medium-term effects the Norwegian gender quota law has had on corporate boards listed on the Oslo Stock Exchange from 2009 to 2015. Wehave studied the gender quota law’s impact on different corporate board factors, such as board composition, the number of directorships held, basic remuneration, board size, andthe age of directors. Further, we also compared the gender quota law’s effects on these factors with similar studies made in earlier periods. The reason for that is to recognise whether there is a tendency of convergence over time. The study have been conducted using a quantitative approach by gathering information from mostly annual reports. Since, this is a comparative study, we will be using the same methods as previous researchers. These methods are arithmetic averages and standard deviations. We have also included some other methods to strengthen the results, such as geometric average, median, correlations, and significance test. The results of our research show that the number of directorships held by female directors decreased in both absolute numbers as well as in averages and dispersion. Remuneration for female directors increased. However, it diverged with male directors. The average board size did not remain significantly constant over time. We also found that the average age of board directors both increase and converges between the genders. We also believed that the proportion of female directors was depended on the firm’s board size, which the results showed was an incorrect assumption. This paper has applied an overarching theory called contingency theory. Further, other complementary theories within the area of corporate governance have also been used such as stakeholder theory, agency theory, and resource dependency theory. When analysing the results from this paper, there were too many plausible and contrasting theoretical explanations for why the various outcomes occurred. Therefore, we do not believe that the existing theoretical frameworks available are appropriate to explain how the gender quota law will impact corporate boards. The main contribution of this study is the results that show how both female and maledirectors’ average age and directorships held are converging over the observed period. Also, that the gender quota law has enabled female directors to gain more experience, which has led to a higher proportion of female directors.
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Ishak, Zuaini. "Corporate boards, ultimate ownership structure and corporate diversification : a study of public listed companies in Malaysia." Thesis, University of Southampton, 2004. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.411220.
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Matsaba, Mohla. "Why are there so few women on South African company boards?" Diss., University of Pretoria, 2010. http://hdl.handle.net/2263/25376.
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The purpose of this research is to investigate why there are so few women on South African company boards. Since the first democratic elections in South Africa, diversity has been in the focal point to correct the discrimination and inequalities of the past; however the gender diversity has not been very successful on company boards. Exploratory or qualitative research methodology was employed based on semistructured interviews with a non-probability sample of 13 respondents. All respondents were women who served on company board as directors. They were from various sectors of the economy and served in various capacities on the boards. This study found that the market and the shareholder profiles have diversified considerably, however the company boards have not changed significantly. The gender gap maybe narrowing on company boards however the levels of discrimination and inequalities are still very high. Gender stereotypes continue to inform many decisions in business, including those of board appointments. The study also found that for transformation to occur successfully, leadership had to play a major role. Government has implemented sound regulatory systems that encourage diversity and it is now up to the leadership in companies to take the responsibility and give women opportunities to participate in business through boards. Government, through policies and regulations, continue to play a crucial role in facilitating transformation however the pace of change remains sluggish. Leadership has a critical role to play because the purpose of the policies and regulations is not only to get companies to achieve compliance, but to create equal opportunities for all South Africans. CopyrightDissertation (MBA)--University of Pretoria, 2010.
Gordon Institute of Business Science (GIBS)
unrestricted
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Schonning, Aud Randi. "Investigating absorptive capacity in boards, corporate governance and the value creating board." Thesis, University of Wolverhampton, 2013. http://hdl.handle.net/2436/297448.
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Within corporate governance research, boards of directors constitute an essential part and are described as "the apex of the internal control system" (Jensen, 1993, p.862). Several stands of research have investigated whether, and to which degree, boards’ composition, structure and processes have impact on board task performance, but board processes and specifically the use of knowledge and skills have not been thoroughly researched, yet. Simultaneously, there is a gap within organisational behaviour research on how knowledge is explored, transformed and exploited, which is conceptualised as absorptive capacity. Further, the concept of absorptive capacity has so to date not been researched in a board context. In this thesis board processes are studied by exploring the impact of absorptive capacity on board task performance. Three dimensions of absorptive capacity, exploratory learning, transformative learning and exploitative learning, are used in the analyses. The research is conducted using mixed methods (based on a survey and a case study). A quantitative analysis is based on the Norwegian Value Creating Board Survey, and a case study is conducted based on records, observations from board meetings and interviews in the Norwegian health company Healthy. The findings show that the three dimensions of absorptive capacity, positively and significantly, mediate the relation between presence of knowledge and skills and board task performance. Complementarities between the three learning processes exist with the result that the three learning processes together are a stronger mediator than a single process. The qualitative findings show that 1) information flows have an impact on absorptive capacity, 2) that the role and power of the CEO and the division of labour between the CEO and the chair, might have an impact on board task performance and 3) that a comprehensive utilisation of consensus has an impact on transformative and exploitative learning, 4) that effort norms are positively correlated to use of knowledge and skills and 5) that activation triggers have impacts on the learning processes. The research contributes to theory with an extended application of the concept of absorptive capacity to boards, responding to calls from researchers to conduct new and more extensive research to analyse and integrate the concept. The thesis further contributes by shedding new light on learning processes in boards, underpinning former conceptual models. In the case study several findings are reported which are presented in an extended and modified model of determinants of board tasks. Finally, this thesis contributes to mixed methods research in boards. The findings have implications for board practice with regard to board selections, board evaluations and learning processes in boards. Corporate governance codes should be aligned with these findings.
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Lester, Richard H. "A road less traveled Investigating the outside directors of America's corporate boards /." Diss., Texas A&M University, 2003. http://hdl.handle.net/1969/493.
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Stiles, Philip. "The roles and responsibilities of boards of directors in large UK companies." Thesis, University of London, 1998. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.364786.
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Boström, Maria, and Louise Kvarnberg. "Påverkar andelen kvinnliga styrelseledamöter total risk i svenska onoterade aktiebolag? : En studie om sambandet mellan andel kvinnliga styrelseledamöter och total risk i svenska onoterade aktiebolag." Thesis, Högskolan i Gävle, Företagsekonomi, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:hig:diva-24489.
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Denna studies syfte är att undersöka huruvida det finns ett samband mellan andel kvinnliga styrelseledamöter och total risk i svenska onoterade aktiebolag. Tidigare forskning har riktats mot noterade aktiebolag och då huruvida det finns ett samband mellan andel kvinnliga styrelseledamöter och företags finansiella- respektive rörelserisk. Dessa två komponenter utgör tillsammans total risk varför det ter sig intressant att undersöka hur denna påverkas av andel kvinnliga styrelseledamöter. Utifrån detta formas studiens tre hypoteser, vilka är att det finns ett samband mellan andel kvinnliga styrelseledamöter och total risk, respektive finansiell risk samt rörelserisk i ett svenskt onoterat aktiebolag. Studien genomförs i positivistisk tradition, och därmed utförs statistiska tester utifrån kvantitativ data. Detta för att kunna urskilja ett eventuellt samband mellan den beroende variabeln, total risk, och den oberoende variabeln andel kvinnliga styrelseledamöter. Den empiriska datan samlas in via databasen Retriever, där information från onoterade aktiebolags årsredovisningar samlas in för bokslutsåret 2015. Studiens resultat visar ett mycket svagt positivt samband mellan andel kvinnliga styrelseledamöter och total risk- respektive finansiell risk samt rörelserisk. Följaktligen förkastas studiens samtliga nollhypoteser. Sambanden mellan beroende och oberoende variabel är dock mycket svaga, vilket gör att resultaten skiljer sig från en svensk studie på svenska noterade aktiebolag av Adams och Funk (2012). Studien lämnar bidraget att andel kvinnliga styrelseledamöter inte har någon betydande inverkan på total risk i svenska onoterade aktiebolag. Denna studie undersöker endast ett bokslutsår. Förslag till vidare forskning är därmed att undersöka en längre tidsperiod för att således jämföra flera bokslutsår med varandra. Studien finner att kontrollvariabeln, bolagets ålder, har störst inverkan i samtliga regressioner och ytterligare förslag till vidare forskning inom området är därmed att undersöka sambandet mellan bolagets ålder med de olika riskmåtten.The aim of this study is to examine a possible correlation between the proportion of women on corporate boards and firm risk in an unlisted Swedish corporation. Recent studies have focused on listed companies, and whether there is a correlation between the proportion of women on corporate boards and financial risk respectively business risk. These two measures of risk together defines as firm risk. How women effect firm risk is therefore by interest to investigate further. This study is computed with a positivistic approach through statistical tests and analysis to discover an eventual correlation between the proportion of women on corporate boards and firm risk in an unlisted Swedish corporation. All empirical data is collected from the database Retriever The results of this study show that the proportion of women on corporate boards correlates with the firm, financial- and business risk correlates in Swedish unlisted corporations. Whether the results actually show a greater impact in practice can be further discussed. The contribution of this study is therefore that the gender diversification does not impact the firm risk in Swedish unlisted corporations. For future studies we suggest to do more research on how the time aspect impact the relation between women on corporate boards and firm risk. As a suggestion, the age of the corporations can be examined, since this factor had the greatest impact on the risk measures.
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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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Hodigere, Renuka. "¿Structural analysis of the under-representation of women on boards of public corporations." Case Western Reserve University School of Graduate Studies / OhioLINK, 2013. http://rave.ohiolink.edu/etdc/view?acc_num=case1388408832.
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Lyons, Bridget Elizabeth. "Motivations, Roles, Characteristics, and Power: Women Volunteer Leaders on Nonprofit Boards of Directors." VCU Scholars Compass, 2004. http://scholarscompass.vcu.edu/etd/1440.
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The purpose of this study was to describe and analyze the leadership experiences of woman presidents of nonprofit agencies who are perceived as successful. Recognizing that participants' descriptions of their leadership experience are both similar and different, those similarities and differences are explored and analyzed. Commitment to the organization's mission, communicating a vision into action, fostering collaboration, and an adaptable leadership approach all contributed to the success of these female board presidents. A case study design was used to obtain an in-depth understanding of the phenomenon of women leaders on nonprofit boards of directors. In-depth interviewing, observations with field notes, member checking, and written materials were utilized as data collection techniques. The selection of eight current and former board presidents for this study involved purposeful, criterion-based sampling. The researcher selected subjects based on their knowledge and experience with the phenomenon under investigation. An interesting finding from the study was that participants shared the same motivation and commitment to nonprofit work, as well as similar leadership qualities despite their differences in socioeconomic background, ethnicity, race, and age. The data also revealed these women place a high value on the social element of nonprofit work. Research supports that women overall are more likely to attach importance to helping others then men who place more significance on status and prestige. This finding based on the literature review and data analysis, suggests further research should include a comparative study of leadership qualities of men and women nonprofit board presidents to determine if there is a consistent leadership model.Nonprofits need to recognize that future leaders are out there waiting to be trained and among them are women who have transferable skills along with a passion and commitment to an organization. Those nonprofit agencies who understand the value of training and board development will be cultivating the leaders of tomorrow.
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Li, Qi. "CEO Membership of New Zealand Boards: Determinants and Firm Performance." Thesis, University of Canterbury. Economics and Finance, 2013. http://hdl.handle.net/10092/8685.
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This study primarily investigates the determinants of CEO membership of New Zealand (NZ) boards, and the effect of CEO board membership on firm performance, for publicly-listed NZ firms between 1997 to 2008. The project is conducted using a unique hand-collected panel dataset containing information about CEO participation on the board, firm characteristics, firm performance, ownership, and firm governance. The sample covers the twelve-year period.
The sample statistics of CEO board membership reveal that on average, approximately 30% of NZ CEOs do not sit on their company board. In addition, the number (percentage) of incidences of CEOs off their company board has been increasing. Specifically, the percentage of CEOs off the board was approximately 20% in 1997 but 42% in 2008.
Models examining the determinants of CEO board participation indicate that the probability of CEO board membership is significantly related to the opacity of firms' information environment and the strength of firms' governance environment. Specifically, the probability of CEO board membership is significantly affected by firm size, firm age, percentage of independent directors, board ownership, and multiple directorships in independent companies. In particular, firm size and percentage of independent directors on the board possess economic significance. The negative association between the probability of CEO board membership and the strength of firms' governance environment is consistent with CEO utility maximization.
I also find that although CEO board membership is positively related to ROA, ROE and Jensen's alpha in basic regression models, the positive effect observed in accounting performance models disappears after controlling for self-selection. In other words, firms with better accounting firm performance tend to appoint their CEOs on the board. This may attribute to the possibility that CEO board membership is optimally determined by shareholders. The evidence from a market-based model also reflects shareholder interests after controlling for the negative self-selection behavior.
As an additional analysis, I examine the determinants of different degrees of CEO board involvement where CEOs on the board are categorized into CEO-director and CEO duality (the CEO also holds the position of the chairman of the board). This analysis shows that a number of explanatory variables have a non-linear relationship with the degree of CEO board involvement. For example, CEO board involvement is negatively related to firm age and multiple directorships in independent companies but positively related to their squared terms. To the contrary, CEO board involvement is positively related to Tobin's Q ratio and percentage of independent directors but negatively related to their squared terms.
Moreover, basic regression results examining the effect of the extent of CEO board involvement on firm performance reveal that dual firms and CEO-off-the-board firms are associated with lower accounting firm performance than CEO-director firms, but dual firms are associated with better Jensen's alpha and CEO-off-the-board firms are associated with lower Jensen's alpha. The robustness analysis finds that the negative effect of CEO duality on operating performance is significantly mitigated by self-selection and the effect of CEOs off the board on operating performance is intensified by self-selection. In other words, after taking into account the self-selection bias, CEO duality status provides strong evidence for CEO utility maximization whereas CEOs off the board are optimally chosen given the underlying characteristics. However, the results from the market-based models show the exact opposite story after controlling for the self-selection bias: CEO duality is optimally chosen whereas the costs of CEOs off the board are greater than their benefits in firms with CEOs off the board, providing evidence for CEO utility maximization.
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Siladi, Biserka, and n/a. "The role of non-executive directors in corporate governance : an evaluation." Swinburne University of Technology, 2006. http://adt.lib.swin.edu.au./public/adt-VSWT20060907.120343.
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Corporate governance has become an increasingly topical issue in recent years. This
has been fuelled by such corporate collapses as Enron, Worldcom, Parmalat, One.Tel
and HIH. The role and responsibility of the board and directors has emerged as an
important issue in examining the cause of these collapses. This has created much
debate on what the role of the directors is in 'directing', 'monitoring' or 'advising' a
company.
Research indicates that investors are prepared to a pay a premium for good
governance. This raises a number of questions. What is governance? How do we
determine what is good governance? What role do directors have in this? Does the
company's performance improve by adopting good governance practices?
There are numerous approaches to examining what makes a good board. Quantitative
techniques have included the use of such measurable concepts as the number of
executive and non-executive directors, directors' skill base (for example,
accountancy, marketing etc) and frequency of meetings attended. Researchers have
also attempted to measure board performance and effectiveness by using indicators
such as share values and shareholder returns.
There is a lack of qualitative research in board behaviour and effectiveness. This
exploratory study adopts a qualitative approach in order to provide richer data. It uses
interviews to evaluate directors' views on some aspects of corporate governance,
specifically in relation to the executive and non-executive director debate. The
interviews were conducted with 11 directors from a variety of organizations in the forprofit
and not-for-profit sectors.
Two major themes have emerged from the analysis of the interviews. Firstly, directors
are traditionally considered to be responsible for maximising shareholder wealth.
However, directors are now expected to broaden their responsibilities to include other
stakeholders and to consider social and environmental issues in making their
decisions. The findings indicate that it is now more demanding to be a director due to
increased workloads arising from the regulatory and legal requirements. This has also
impacted on director and board evaluations, multiple directorships and directors
remuneration levels.
The second major theme that emerged from this study is that directors' personal
experiences did not necessarily concur with governance principles and guidelines. For
example, the widely recommended method of achieving 'best practice' by having a
majority of non-executive directors on a board is considered too simplistic.
Further studies are required on the behavioural and personality traits, technical skills
of the directors, board structure, composition and type of organization which make the
best contribution to achieving boardroom effectiveness.
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Siladi, Biserka. "The role of non-executive directors in corporate governance an evaluation /." Swinburne Research Bank, 2006. http://hdl.handle.net/1959.3/25900.
Full textAbstract:
Thesis (MBus) - Faculty of Business and Enterprise, Swinburne University of Technology, 2006.This thesis is submitted in fulfillment of the requirements for the degree of Master of Business in the Faculty of Business and Enterprise, Swinburne University of Technology - 2006. Typescript. Includes bibliographical references (p. 113-125).
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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.
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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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Shan, Liwei. "Board independence, excess cash and corporate payout policy /." view abstract or download file of text, 2006. http://proquest.umi.com/pqdweb?index=0&did=1196409441&SrchMode=1&sid=1&Fmt=2&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1176828116&clientId=11238.
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Thesis (Ph. D.)--University of Oregon, 2006.Typescript. Includes vita and abstract. Includes bibliographical references (leaves 104-109). Also available for download via the World Wide Web; free to University of Oregon users.
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Hartmann, Michael C. "Continuing Education for Board Directors an Empirical Study of its Effects on Directors, Boards and Public Trust /." kostenfrei, 2008. http://www.biblio.unisg.ch/www/edis.nsf/wwwDisplayIdentifier/3506.
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