International comparative analysis of the association between board structure and the efficiency of value added by a firm from its physical capital and intellectual capital resources

Ho, Carol-Anne; Williams, S. Mitchell

doi:10.1016/j.intacc.2003.09.001

Cited by 147 publications

(145 citation statements)

References 67 publications

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“…As has been previously discussed, the past SA evidence (albeit it indirect) also indicates that a greater percentage of INEDs on corporate boards may be associated with higher firm valuation (Ho and Williams, 2003;Mangena and Chamisa, 2008). However, given the mixed international evidence, we predict a statistically significant association between the presence of INEDs and firm valuation without being specific about the direction of the sign.…”

Section: Ineds and Firm Valuation: Theory Evidence And Hypothesis Desupporting

confidence: 52%

“…Of close importance to this study, Ho and Williams (2003) By contrast, a group of researchers reports that the presence of INEDs is negatively correlated with firm valuation (e.g., Yermack, 1996;Agrawal and Knoeber, 1996;Laing and Weir, 1999;Bozec, 2005;Kyereboah-Coleman, 2007). INEDs is negatively related to a firms' financing decisions.…”

Section: Ineds and Firm Valuation: Theory Evidence And Hypothesis Dementioning

confidence: 77%

“…Thirdly, it has been argued that the association between INEDs and firm valuation may not just differ by company-level features, but also by differences in country-level CG and institutional characteristics (Ho and Williams, 2003;Haniffa and Hudaib, 2006;Mangena and Tauringana, 2008;Sanda et al, 2010). Despite this development, existing studies examining the effect of the presence of INEDs on firm valuation are mainly concentrated in a few developed countries that exhibit relatively similar institutional settings (Baysinger and Butler, 1985;Baysinger & Hoskisson, 1990;Rosenstein and Wyatt, 1990;Bhagat and Black, 2002;Kiel and Nicholson, 2003;Ben-Amar and Zeghal, 2011).…”

Section: Introductionmentioning

confidence: 99%

“…A limited number of studies have also investigated the effects of different CG mechanisms, such as the frequency of board meetings (El Mehdi, 2007;Ntim and Osei, 2011), ownership structure (Mangena and Tauringana, 2008;Sand et al, 2010), board size (Ho and Williams, 2003;Kyereboah-Coleman et al, 2006) and board composition (Kyereboah-Coleman and Biekpe, 2006b;Sunday, 2008) on corporate performance with equally inconclusive results.…”

Section: Introductionmentioning

confidence: 99%

“…Thus, an investigation of the effect of the presence of INEDs on firm value in emerging African markets, where there is a severe absence of reliable empirical evidence will be crucial in offering a more complete insights on the impact of INEDs on firm valuation (Ho and Williams, 2003;Haniffa and Hudaib, 2006;Mangena and Tauringana, 2008). Therefore, and in this paper, we examine the association between the presence of INEDs and firm valuation for a sample of SA listed firms.…”

Section: Introductionmentioning

confidence: 99%

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The king reports, independent non-executive directors and firm valuation on the Johannesburg stock exchange

Ntim¹

2011

COC

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INEDs and firm valuation. By contrast, we find no statistically significant association between the presence of non-executive directors (NEDs) and firm valuation. Our findings are robust across a number of econometric models that control for different types of endogeneity problems, non-linear associations and firm valuation proxies. Our findings have important policy and regulatory implications. Whereas our evidence that more independent corporate boards' impacts positively on firm valuation provides support for the recommendations of the King Reports, it shows that to be meaningful, director independence has to be more carefully and strictly defined.

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Section: Ineds and Firm Valuation: Theory Evidence And Hypothesis Desupporting

confidence: 52%

Section: Ineds and Firm Valuation: Theory Evidence And Hypothesis Dementioning

confidence: 77%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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The king reports, independent non-executive directors and firm valuation on the Johannesburg stock exchange

Ntim¹

2011

COC

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Intellectual capital in East and West African social enterprises

Sgrò

Ciambotti

Bontis

et al. 2020

Knowl Process Manag

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Purpose This study aims to identify the main factors of knowledge assets (i.e., human, relational and structural capital) that affect the value creation process of social enterprises located in East and West Africa. Design A survey was administered to a sample of social enterprises located in developing countries such as Kenya, Uganda, Sierra Leone and Ghana. The survey was designed to gather background information about social enterprises, social entrepreneurs as well as data pertaining to intellectual capital. Therefore, descriptive statistical analysis, principal component analysis and Pearson correlations were employed to identify the main components of IC for African SEs and the inter‐relationship among intellectual capital components. Findings Research findings confirmed that human capital (i.e., a social entrepreneur's knowledge), relational capital (i.e., local and global relationship quality) and structural capital (i.e., long‐term and up‐to‐date firm knowledge) were validated as important resources for African SEs in the value creation process. Moreover, correlation analysis showed that human capital and relational capital were positively correlated; whereas structural capital was positively correlated with the local and global relationship's quality and with the social entrepreneur's skills. Limitations The main limitations concern the heterogeneity and the restricted sample size due to challenges in the data gathering process. Moreover, the results could potentially be influenced by the context and the low response rate. However, this study can represent a starting point for future research in this unique but important research setting. Originality This study can be considered original for several reasons. First, empirical evidence on knowledge assets in developing countries in Africa is still scarce, despite the potential of being a new frontier for intellectual capital studies and social and economic growth. Second, the use of a survey method as an IC measurement tool in this context is unique. Finally, this study helps in providing a platform for further investigation in Africa.

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The Relationship Between Intellectual Capital Performance and Ownership Gender Diversity in Small-Sized Italian Companies

Chiucchi

Giuliani

Poli

2017

Gender Issues in Business and Economics

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International comparative analysis of the association between board structure and the efficiency of value added by a firm from its physical capital and intellectual capital resources

Cited by 147 publications

References 67 publications

The king reports, independent non-executive directors and firm valuation on the Johannesburg stock exchange

The king reports, independent non-executive directors and firm valuation on the Johannesburg stock exchange

Intellectual capital in East and West African social enterprises

The Relationship Between Intellectual Capital Performance and Ownership Gender Diversity in Small-Sized Italian Companies

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