The Diversity Of Corporate Board Committees And Financial Performance PDF Download
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Author | : David Carter |
Publisher | : |
Total Pages | : 41 |
Release | : 2008 |
Genre | : |
ISBN | : |
Download The Diversity of Corporate Board Committees and Financial Performance Book in PDF, ePub and Kindle
We examine the relationship between the gender and ethnic minority diversity of the board of directors and the financial performance of the firm. The research is unique because we analyze the diversity of important board committees to gain greater insight into the way diversity affects board functions and shareholder value. Our sample consists of all firms listed in the Fortune 500 over the period 1998-2002 which yields a panel of data with approximately 2,000 firm years. The results of three-stage least-squares estimation support the conclusion that board diversity has a positive effect on financial performance as measured by Tobin's q. The evidence on board committees indicates that gender diversity has a positive effect on financial performance primarily through the audit function of the board and ethnic diversity impacts financial performance through all three functions of the board we investigate, audit, executive compensation, and director nomination.
Author | : David Carter |
Publisher | : |
Total Pages | : 40 |
Release | : 2007 |
Genre | : |
ISBN | : |
Download The Diversity of Corporate Board Committees and Firm Financial Performance Book in PDF, ePub and Kindle
We examine the relationship between the gender and ethnic minority diversity of the board of directors and the financial performance of the firm, i.e. the economic case for a diverse board of directors. The research is unique because we analyze both the diversity of the board and the diversity of important board committees to gain greater insight into the way diversity affects board functions and, ultimately, shareholder value. Our sample consists of all firms listed on the Fortune 500 over the period 1998-2002 yielding a panel of data with approximately 2,000 firm years. Our data also indicate that the direction of causation goes from board diversity to firm financial performance which supports the economic case for board diversity. When we consider the percentage of women and ethnic minority directors on the board, the diversity of board composition appears to create value for shareholders. The results of a cross-section fixed-effects procedure with lagged variables and a three-stage least-squares estimation support board diversity has a positive effect on financial performance as measured by Tobin's q. However, the board committee evidence also indicates that the process through which gender and ethnic diversity impacts financial performance is subtle and complex. Some functions of the board may benefit from diverse directors while other functions may actually suffer. Furthermore, the type of diversity appears to matter. We conclude a more nuanced view of the economic case for board diversity is most appropriate.
Author | : Barbara Sveva Magnanelli |
Publisher | : Springer Nature |
Total Pages | : 176 |
Release | : 2020-10-02 |
Genre | : Business & Economics |
ISBN | : 3030561208 |
Download Corporate Governance and Diversity in Boardrooms Book in PDF, ePub and Kindle
This book explores diversity in boardrooms to highlight the link between the heterogeneous dimensions of board diversity and their impact on the firms. The book provides a brief definition of corporate governance and focuses on the role and functions of the board of directors. The work contributes to the literature enriching the empirical findings about board diversity. After a deep review of the literature within several theoretical frameworks, such as agency, stakeholder, stewardship, resource dependence, and the institutional theory, the focus moves on the impact on financial performance. The board diversity effects are tested through an empirical analysis conducted on a sample of European listed companies, performing both a single and a joint diversity index analysis. Practitioners and academics will find this book particularly timely and useful as it combines both a review of the literature and robust empirical investigation. It will be an excellent reading for academics and practitioners interested in firm performance, corporate governance and stakeholder theory.
Author | : Michelle Maria Duguid |
Publisher | : |
Total Pages | : 206 |
Release | : 2006 |
Genre | : Boards of directors |
ISBN | : |
Download Board Diversity and Corporate Financial Performance Book in PDF, ePub and Kindle
Author | : Naeem Tabassum |
Publisher | : Springer Nature |
Total Pages | : 335 |
Release | : 2020-06-28 |
Genre | : Business & Economics |
ISBN | : 3030485277 |
Download Corporate Governance and Organisational Performance Book in PDF, ePub and Kindle
Establishing a corporate governance strategy that promotes the efficient use of organisational resources is instrumental in the economic growth of a country, as well as the successful management of firms. This book reviews existing literature and identifies board structural features as key variables of an effective corporate governance system, establishing a multi-theoretical model that links Board structural characteristics with firm performance. It then, using a comprehensive empirical study of 265 companies listed on the Karachi Stock exchange, tests this conceptual model. This research serves as a significant milestone, reflecting the socio-economic setting of emerging economies, and highlighting the need for the corporate sector in emerging markets to move away from a 'tick-box' culture. It argues that the sector needs to implement corporate governance as a tool to mitigate business risks; appoint and empower non-executive directors to achieve an effective monitoring of management; and establish their own ethical and governance principles, applicable to the Board of Directors. Based on an extensive data base, collected painstakingly over five years, this book offers new insights and conceptual framework for further research in this area. Given the breadth and width of the research, it is a useful source of future reference for students, researchers and policy makers.
Author | : Ram Kumar Mishra |
Publisher | : Academic Press |
Total Pages | : 126 |
Release | : 2013-04-16 |
Genre | : Business & Economics |
ISBN | : 0124105327 |
Download Diversity and the Effective Corporate Board Book in PDF, ePub and Kindle
The book discusses the various aspects of diversity of corporate boards in terms of gender, age, nationality, tenure, education, experience and personalities. It enumerates the need for such diversity in each category and related concerns. Statistics from around the world support the authors’ claims. The nine chapters in this short book have not been previously published. Explains the dimensions of board diversity and ways to use them to increase effectiveness Supports its findings with statistics from around the world Relevant for researchers and professionals working in corporate governance and corporate finance
Author | : Cobus Taljaard |
Publisher | : |
Total Pages | : 36 |
Release | : 2014 |
Genre | : |
ISBN | : |
Download Board Diversity and Financial Performance Book in PDF, ePub and Kindle
Directors need to guide and govern companies on behalf of and for the benefit of shareholders and stakeholders (Adams, Hermalin, & Weisbach, 2010; "Duties of directors," 2011). However questions remain as to whether boards with higher levels of diversity amongst directors are better equipped to fulfil their fiduciary duty than boards with lower levels of diversity (Carter, D'Souza, Simkins, & Simpson, 2010; Jhunjhunwala & Mishra, 2012; Nielsen & Nielsen, 2013).This research examines whether increased levels of diversity within boards are associated with improved financial performance to shareholders. From the literature, several theoretical frameworks that could explain why increased diversity might or might not lead to improved board performance were noted. Share returns and directors' demographic data were collected for a sample of the largest 40 companies listed on the JSE from 2000 to 2013. This data was analyzed using Muller and Ward's (2013) investment style engine by forming portfolios of companies based on board-diversity constructs. Time-series graphs of cumulative portfolio market returns were analyzed to determine if the diversity dimensions tested were associated with improved company financial performance.The results showed that racial diversity within boards is not associated with financial performance. However, increased gender diversity and younger average board age were shown to have strong associations with improved share price performance.
Author | : Kara Hollis |
Publisher | : LAP Lambert Academic Publishing |
Total Pages | : 92 |
Release | : 2011-10 |
Genre | : |
ISBN | : 9783845439594 |
Download Behind Closed Doors Book in PDF, ePub and Kindle
This thesis examines the effects of different forms of corporate board diversity on company financial performance. Specifically, the study considers whether types of informational and demographic diversity, as well as the level of familiarity among board members, lead to improved functioning of the board. To determine the relationship between board diversity and firm performance, the thesis combined quantitative and qualitative data, employing statistical analysis to determine the relationship between various forms of board diversity and firm financial performance of Fortune 1000 corporations, as measured by return on assets (ROA) and return on investments (ROI). It also utilized interviews with eleven Fortune 500 board directors to gain insight into the dynamics behind the boardroom doors that could facilitate or discourage the contributions of different forms of diversity. By combining insights from these two data sources, gender diversity was found to enhance firm performance, while diversity in board experience (measured by the number of boards directors have served on during their career) had a detrimental effect.
Author | : A. Kakabadse |
Publisher | : Springer |
Total Pages | : 548 |
Release | : 2013-12-02 |
Genre | : Business & Economics |
ISBN | : 1137275707 |
Download How to Make Boards Work Book in PDF, ePub and Kindle
How to Make Boards Work offers a unique view of the thinking and doing of governance. The outside-in perspective offers a holistic framework highlighting how global cultural, social and political diversity impact boards of directors. The inside-out perspective emphasizes how governance and boards can effectively realize sustainable value creation.
Author | : Cathrine Seierstad |
Publisher | : Springer |
Total Pages | : 285 |
Release | : 2017-09-13 |
Genre | : Business & Economics |
ISBN | : 3319561421 |
Download Gender Diversity in the Boardroom Book in PDF, ePub and Kindle
This edited collection provides a structured and in-depth analysis of the current use of quota strategies for resolving the pressing issue of gender inequality, and the lack of female representation on corporate boards. Filling the gap in existing literature on this topic, the two volumes of Gender Diversity in the Boardroom offers systematic overviews of current debates surrounding the optimisation of gender diversity, and the suggested pathways for progress. Focusing on sixteen European countries, the skilled contributors explore the current situation in relation to women on boards debates and approaches taken. They include detailed reflections from critical stakeholders, such as politicians, practitioners and policy-makers. Volume 1 focuses on eight European countries having adopted quotas and is a promising and highly valuable resource for academics, practitioners, policy makers and anyone interested in gender diversity because it examines and critiques the current corporate governance system and national strategies for increasing the share of women not only on boards, but within companies beyond the boardroom.