Corporate governance is a recent concept that encompasses the costs caused by managerial misbehavior. Corporate governance is concerned with how organizations in general, and corporations in particular, produce value and how that value is distributed among the members of the corporation, its...

Using a panel of 504 Taiwanese listed firms during a 10-year period (2002-2011), this study tests whether there is an optimal level of board ownership, which maximizes firm value. This work adopts Tobin’s Q as the proxy for firm value and finds that board ownership between 11.57% and 14.35%...

Institutional investors pay considerable attention to the quality of a company's governance. Unfortunately, it is difficult for outside observers to reliably gauge governance quality. Oftentimes, poor governance manifests itself only after decisions have been made and their outcomes known. We...

Boards of directors face the twin task of disciplining and screening executives. To perform these tasks directors do not have detailed information about executives' behaviour, and only infrequently have information about the success or failure of initiated strategies, reorganizations, mergers...

The purpose of this paper is to investigate whether increasing gender diversity on the board of directors improves firm perfomance, using a data-set of 20,487 limited companies in Sweden during 1997-2005. We use a random-effects random-coefficients model to account for unobserved firm...

In the theoretical framework of corporate governance this article studies the efficiency of the control exerted by the ownership structure and the board of directors on managers. The confrontation of entrenchment theory and agency theory allows to determine the necessary conditions of the...

Boards of directors face the twin task of disciplining and screening executives. To perform these tasks directors do not have detailed information about executives' behaviour, and only infrequently have information about the success or failure of initiated strategies, reorganizations, mergers...

Many studies have examined the impact of various characteristics of the board of directors on firm value. However, little attention has been paid to the impact of female board membership on firm value, with the exception of a number of U.S. studies. The aim of this paper is to investigate this...

Dans le cadre théorique du gouvernement d'entreprise, cet article étudie l'efficacité du contrôle exercé par la structure de propriété et le conseil d'administration sur les dirigeants. La confrontation des théories de l'enracinement et de l'agence permet de déterminer les conditions...

This study aims at comparing the efficiency of the main corporate governance practices utilized presently for stimulating the financial performance of listed companies. After analyzing the literature, including theoretical arguments and empirical research results, the study concludes that the...