Board composition and firm value under concentrated ownership: the Canadian evidence

Erickson, John R.; Park, Yun W.; Reising, Joe; Shin, Hyun-Han

doi:10.1016/j.pacfin.2004.11.002

Cited by 103 publications

(78 citation statements)

References 18 publications

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“…Further, their results also find a negative relationship between the higher proportion of independent directors on board and related party transactions. Erickson et al (2005) in dominant shareholder regime for Canadian companies find a negative relationship between the fraction of outside directors and firm value. However, the authors suggest that independent board was able to mitigate agency problem arising out of dual class common stock.…”

Section: Related Literaturementioning

confidence: 95%

Outside Directors, Corporate Governance and Firm Performance: Empirical Evidence from India

Kumar

Singh²

2012

AJFA

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The current study examines the efficacy of outside directors on the corporate boards of 157 non-financial Indian companies for the year 2008. The research particularly investigates if the monitoring by grey director (non-executive non-independent) and independent director influences firm performance. Research finding reveals that while the proportion of grey directors on board has marginally deteriorated effect, the independent director's proportion has an insignificant positive effect on firm value. Outcome of research has significant implications for devising a board model for companies in India that have a significant ownership concentration and insider control. Independent directors require greater representation on the board in lieu of other non-executive outside directors.

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Section: Related Literaturementioning

confidence: 95%

Outside Directors, Corporate Governance and Firm Performance: Empirical Evidence from India

Kumar

Singh²

2012

AJFA

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“…Other studies like Anderson, Mansi and Reeb (2004), Matar et al (2014) show the same positive association between firm value and audit committee. To reduce the agency problems it is very important to place a well functioning and an independent audit committee (Erickson et al, 2005). The size and the number of meeting of audit committee is of great interest in academic discussion, and have been frequently associated with firm value (Abdelsalam & Street, 2007).…”

Section: Audit Committeementioning

confidence: 99%

An empirical analysis of corporate governance and firm value: Evidence from KSE-100 Index

Khan¹,

Tanveer²,

Malik³

2017

10.5267/j.ac

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This paper investigates the impact of corporate governance on firm value measured by Tobin's Q. Different corporate governance proxies i.e. board size, board independence, audit committee and CEO duality are interacted with firm value. A sample of 91 nonfinancial firms listed on KSE was selected over the period 2010-2014. The findings of the study show that board size and CEO duality had negative impacts on firm value. Moreover, board size, non-executive directors and audit committee had positive and significant impacts on firm value.Growing Science Ltd. All rights reserved. 7

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“…Beasley, Carcello, Hermanson, and Lapides (2000) find firms that commit fraud are likely to have less independent ACs. Moreover, Chen and Jaggi (2000) and Erickson et al, (2005) provide a positive relationship between the proportion of independent AC members serving in the board and the comprehensive of financial disclosure. Klein (1998) and Hsu (2008) find no significant association.…”

Section: International Journal Of Accounting and Financial Reportingmentioning

confidence: 99%

Board Characteristics and Firm Performance: Case of Saudi Arabia

Ghabayen

2012

ijafr

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Corporate governance (CG) has received much attention in the current studies all over the world especially after many corporate scandals and the failures of some biggest firms around the world such as Commerce Bank (1991) Enron (2001), Adelphia (2002), and World Com (2002). The aim of this study is to examine the relationship between board mechanisms (audit committee size, audit committee composition, board size, and board composition) and firm performance (ROA) based on the annual reports of listed companies in the year 2011 of sample of non-financial firms in the Saudi Market (Tadawul). For the purpose of this study, data was collected from a sample of 102 non-financial listed companies. Furthermore, an analysis of regression analysis is utilized to examine the relationship between board characteristics and firm performance. The results of this study reveal that audit committee size, audit committee composition and board size have no effect on firm performance in the selected sample while board composition has a significant negative relationship with firm performance.

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Board composition and firm value under concentrated ownership: the Canadian evidence

Cited by 103 publications

References 18 publications

Outside Directors, Corporate Governance and Firm Performance: Empirical Evidence from India

Outside Directors, Corporate Governance and Firm Performance: Empirical Evidence from India

An empirical analysis of corporate governance and firm value: Evidence from KSE-100 Index

Board Characteristics and Firm Performance: Case of Saudi Arabia

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