Managerial domination of boards of directors and financial performance

Diversity, outside directors and firm valuation: Korean evidence

“…However, no empirical evidence, documenting the negative relationship between board diversity and firm performance or valuation, exists while evidences of positive relationship exist in the literature (Carter et al, 2003;Krishnan and Daewoo, 2005;Auh and Menguc, 2006). Related literature finds insignificant relationship between diversity within the boardroom (Molz, 1988;Shrader et al, 1997;Kochan et al, 2003) or outside the boardroom (Moncrief et al, 2000) and firm performance.…”

Inside Board Members, Regulatory Change and Internationalization: The Case of the U.S. Telecommunications Industry

“…The results with regard to the proportion of insiders/outsiders and firm financial performance have been mixed. Molz (1988) found that insiders were not associated with improved performance. Vance (1983) found that having fewer outsiders was correlated with improved financial performance.…”

“…The proportion of board insiders-tooutsiders was obtained from each firm's proxy statements for the years 1984 through 1992. Consistent with the approach used by both Molz (1988) and Vance (1983), an inside board member was defined as any individual who is currently a full-time employee with this firm or is a retiree of the firm. The proportion of insiders was calculated as the ratio of insiders to the total number of board members.…”

Study of Factors for Internal Control Effectiveness of Listed Companies

“…According to China's 2008 release of "basic norms of internal control", the effectiveness of internal control design can be evaluated from the perspective of the five elements of internal control, namely: internal environment, risk assessment, control activities, information and communication, and internal oversight [3] . The effectiveness of internal control and operation of internal control goals places or not to measure, these five goals are: compliance objectives, asset security objectives, reliability of financial reporting objectives, business objectives, and strategic goals.…”