Board independence and firm performance in China

Effect of Board Diversity on Corporate Governance Structure and Operating Performance: Evidence from the UK Listed Firms

“…This suggests that the interacting effect of board diversity strengthens the relationship between outside directors and ROA. This result supports H1 and is consistent with findings in Anderson and Reeb (2004), Jackling and Johl (2009), Heenetigala andArmstrong (2011), Liu, Miletkov, Wei andYang (2015) which reported positive relationship between OUD and ROA. This finding is expected considering that descriptive statistics (see Table 3) provided evidence that majority (65%) of board members on FTSE 350 were OUD.…”

“…On the contrary, Guest (2009) In other studies, Anderson and Reeb (2004), Jackling andJohl (2009), andHeenetigal andArmstrong (2011) reported significant positive relationship between outside directors and firm performance. In a more recent study, Liu, Miletkov, Wei and Yang (2015) also established positive association between outside directors and operating performance. However, Bhagat and Black (2002) which based their study on the data of 848 US firms for 1991, found no relationship between board composition and performance.…”

Determinants of Profitability: Evidence from Real Sector Firms Listed in Borsa Istanbul

“…However, Yazdanfar (2013) reports that firms' age is negatively and significantly linked to profitability of Swedish micro firms. Similarly, the negative link is also supported by Poutziouris et al (2015) for UK listed firms, Andres (2008) for listed German firms, Liu et al (2015) for Chinese listed firms, and Saito (2008) for publicly traded firms in Japan.…”

Does Corporate Social Responsibility Shape the Relationship between Corporate Governance and Financial Performance?

“…Research on the impact of the independence of the board of commissioners on the performance of the company is done by Bhagat & Bolton (2013) using independent commissioner as a key mechanism for evaluating the relationship of corporate governance and company performance. In a more recent paper, Liu et al (2015); Black et al (2015) reported a positive correlation between board independence and improved business performance. While Nguyen et al (2017) found that the percentage of independent directors on the board was significantly and negatively related to firm performance measured by ROA.…”