Board composition and corporate performance: How the Australian experience informs contrasting theories of corporate governance

Kiel, Geoffrey C. and Nicholson, Gavin J. (2003) Board composition and corporate performance: How the Australian experience informs contrasting theories of corporate governance. Corporate Governance: An International Review, 11 3: 189-205. doi:10.1111/1467-8683.00318


Author Kiel, Geoffrey C.
Nicholson, Gavin J.
Title Board composition and corporate performance: How the Australian experience informs contrasting theories of corporate governance
Journal name Corporate Governance: An International Review   Check publisher's open access policy
ISSN 0964-8410
Publication date 2003
Sub-type Article (original research)
DOI 10.1111/1467-8683.00318
Volume 11
Issue 3
Start page 189
End page 205
Total pages 17
Editor C. Mallin
Place of publication Oxford, U. K.
Publisher Wiley-Blackwell
Collection year 2003
Language eng
Subject C1
350208 Organisational Planning and Management
720403 Management
Abstract In many respects, Australian boards more closely approach normative best practice guidelines for corporate governance than boards in other Western countries. Do Australian firms then demonstrate a board demographic-organisational performance link that has not been found in other economies? We examine the relationships between board demographics and corporate performance in 348 of Australia's largest publicly listed companies and describe the attributes of these firms and their boards. We find that, after controlling for firm size, board size is positively correlated with firm value. We also find a positive relationship between the proportion of inside directors and the market-based measure of firm performance. We discuss the implications of these findings and compare our findings to prevailing research in the US and the UK.
Keyword Management
Corporate Governance
Organisational Networks
Organisational Performance
Boards Of Directors
Interlocking Directorates
Firm Performance
Financial Performance
Market Valuation
Ceo Duality
Ownership
Power
Size
Organization
Compensation
Q-Index Code C1

 
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Created: Tue, 14 Aug 2007, 19:11:02 EST