Do Military Independent Directors Improve Firm Performance?

Li, Zhe; Rainville, Megan

doi:10.1016/j.frl.2021.101988

Cited by 19 publications

(11 citation statements)

References 24 publications

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“…The military emphasizes duty, dedication, and self-sacrifice. The entrepreneurs who work in the military have received rigorous training, good moral beliefs, and spirits of service and self-sacrifice [ 16 , 23 ]. Through the education of ideals and morality, the army can stimulate them to show a higher moral standard in corporate governance [ 16 ].…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

“…Large number of studies have shown the significant effects of military experience on corporate tax avoidance [ 19 ], financing [ 20 ], investment [ 21 ], acquisitions [ 22 ], and firm performance [ 23 ]. For individuals, they are typically experiencing role transitions and are forming their worldviews, values, and beliefs during their military service, when they develop characteristics that reflect prominent features of the environment.…”

Section: Introductionmentioning

confidence: 99%

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Does Entrepreneurs’ Military Experience Promote Corporate Environmental Investment? Evidence from Chinese Private Firms

Hong

Yan

Zhang

2022

IJERPH

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Although it is well established that the military experience of top executives has a profound influence on firms’ decisions, empirical evidence on how military experience matters to corporate environmental investment has been scarce. Drawn on imprinting theory and upper echelon theory, this study examines the impact of entrepreneurs’ military experience on corporate environmental investment. Using a nationwide survey of Chinese private firms, we find that entrepreneurs’ military experience significantly promotes corporate environmental investment. Further, the positive effect is more pronounced for firms with entrepreneurs who have experienced a wartime atmosphere and those located in regions with more minor public environmental concerns. Our study extends the literature on the determinants of corporate environmental investment and the economic consequences of individual military experience. Moreover, this also provides practical insights for policymakers on how to implement environmental governance and promote ecological construction.

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Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Does Entrepreneurs’ Military Experience Promote Corporate Environmental Investment? Evidence from Chinese Private Firms

Hong

Yan

Zhang

2022

IJERPH

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“…Moreover, some studies reported a direct relationship between board independence and business performance (Fariha et al, 2022;Read, 2021). On the contrary, it was argued by Li and Rainville (2021) that no evidence supporting higher board independence could increase firm performance. Besides, some studies concluded no relationship between NOID and financial performance (Guluma, 2021).…”

Section: Number Of Independent Directors (Noid)mentioning

confidence: 99%

Globalizing the Boardroom among Family-Controlled Companies on Bursa Malaysia: The effects of corporate governance on firm performance

Chang

Cheng

et al. 2022

E-BPJ

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This paper aimed to determine the research gap between corporate governance and its effects on firm performance among family-controlled listed companies on Bursa Malaysia with a globalized boardroom after implementing MCCG 2012. The study focused on family-controlled companies listed on Bursa Malaysia from 2013 to 2018. The sample size includes 240 firm-year observations. Panel data analysis (fixed and random effect) model and Hausman tests were used. Results from panel data analysis (Eviews) found no significant effects between corporate governance and firm performance of family-controlled companies listed on Bursa Malaysia with a globalized boardroom. Keywords: Corporate Governance; Firm Performance; Family-Controlled Companies; Globalized Boardroom eISSN: 2398-4287 © 2022. The Authors. Published for AMER ABRA cE-Bs by e-International Publishing House, Ltd., UK. This is an open access article under the CC BYNC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). Peer–review under responsibility of AMER (Association of Malaysian Environment-Behaviour Researchers), ABRA (Association of Behavioural Researchers on Asians) and cE-Bs (Centre for Environment-Behaviour Studies), Faculty of Architecture, Planning & Surveying, Universiti Teknologi MARA, Malaysia. DOI: https://doi.org/10.21834/ebpj.v7iSI8.3915

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“…There was a need to have independent directors on the board because they would not collaborate with the chief executive officer (CEO) or the board's chairman, diminishing shareholders' interest (Tuo et al, 2021). Thus, a Board should involve independent directors to keep the interest of shareholders safe and improve FP (Li & Rainville, 2021). ID was measured by the divided number of independent directors on the board by the total numbers of directors on boards and multiple by 100% (Tran & Turkiela, 2020).…”

Section: Relationship Between Percentage Of Independent Directors On ...mentioning

confidence: 99%

A Pre- and Post- MCCG 2012 Evaluation on the Impacts of Corporate Governance and Intellectual Capital with Firm Performance

Chang

2022

E-BPJ

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This paper aims to examine and compare the impact of corporate governance (CG) and intellectual capital (IC) on firm performance (FP) between pre- Malaysia Code of Corporate Governance (MCCG) 2012 and post- MCCG 2012 of GLCs. Panel data analysis was used. The data were collected from the annual report of the 32 GLCs from 2005 to 2012 (pre- MCCG 2012) and from 2013 to 2020 (post- MCCG 2012). There was a total of 512 firm-year observations. The CG of post- MCCG 2012 has a greater impact on earnings per share (EPS) compared to pre- MCCG 2012. The IC of pre- MCCG 2012 has a greater impact on return on equity (ROE), Tobin’s Q and EPS. Keywords: Corporate Governance; Intellectual Capital; MCCG 2012; Government-Linked Companies eISSN: 2398-4287 © 2022. The Authors. Published for AMER ABRA cE-Bs by e-International Publishing House, Ltd., UK. This is an open access article under the CC BYNC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). Peer–review under responsibility of AMER (Association of Malaysian Environment-Behaviour Researchers), ABRA (Association of Behavioural Researchers on Asians) and cE-Bs (Centre for Environment-Behaviour Studies), Faculty of Architecture, Planning & Surveying, Universiti Teknologi MARA, Malaysia. DOI: https://doi.org/10.21834/ebpj.v7iSI8.3909

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Do Military Independent Directors Improve Firm Performance?

Cited by 19 publications

References 24 publications

Does Entrepreneurs’ Military Experience Promote Corporate Environmental Investment? Evidence from Chinese Private Firms

Does Entrepreneurs’ Military Experience Promote Corporate Environmental Investment? Evidence from Chinese Private Firms

Globalizing the Boardroom among Family-Controlled Companies on Bursa Malaysia: The effects of corporate governance on firm performance

A Pre- and Post- MCCG 2012 Evaluation on the Impacts of Corporate Governance and Intellectual Capital with Firm Performance

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