Saudi Arabia has now opened its markets to foreign investors in line with its strategy to diversify its economy. However, investors need to feel confident that Saudi enterprises are being monitored and regulated appropriately. This study identifies the impact of improvements in Saudi corporate...

The upward trend in women’s representation on executive and supervisory boards of major companies in Germany continued in 2022, although the overall momentum has slowed yet again. Growth on executive boards in particular has slowed, as the most recent DIW Berlin Women Executives Barometer...

The objectives of the research are to investigate the characteristics of the Board of Directors on the financial performance of the enterprise using sample data from 52 construction and real estate enterprises listed on the Vietnam stock exchange in the period 2006-2020. Using typical regression...

This article empirically investigates the impacts of the board’s rejection of shareholder proposals on corporate value and the appropriate approach to regulation. Using a hand-collected dataset on shareholder-proposal-rejection incidents in China, I find that a rejection decision would on...

Investors have in recent years attempted to add climate proposals to the ballot of shareholder meetings, requesting climate disclosures, say on climate, or emission targets. However, many corporate law systems view environmental (and social) issues as matters of strategy and statutorily...

This paper identifies a new and previously unidentified trend that is changing corporate governance: board liability for misconduct based on operational risk. Operational risk is serious business. When boards slumber, hundreds of people die in airline accidents, pipelines explode causing massive...

This study examines whether and how the famine experiences of board chairs influence the innovation of their firms. Results using a sample comprising 8882 firm‐year observations from Chinese firms during the period 2003 to 2017 reveal that the board chair's famine experience has a negative...

This study conducts a systematic review and provides a comprehensive up-to-date review of the literature about diversity on corporate boards. Unlike previous studies, we do not restrict our search to a specific type of diversity (e.g., gender diversity) or limited firm outcomes (e.g., firm...

Purpose: Are board ties among competitors harmful to customers? The prevalent assumption on board ties among competitors is that they harm customer benefits. This study examines the mechanism by which board ties with competitors result in an outcome conducive to customers....

Purpose: As shareholder-elected monitors, independent non-executive directors (INEDs) should ensure that managers do not retain earnings to promote their own interests. The relationship between board independence and dividend distributions was hence investigated for selected companies listed on...

We examine whether reputable independent directors improve firm performance and governance quality in emerging markets, using data from China. Firms with such directors, measured as the number of directorships in other listed firms, have higher profitability, operating efficiency and...

The presence of board members with good governance attributes is value-relevant since it influences investors' investment decisions. The value relevance is expected to improve with the newly introduced extended audit report to disclose key audit matters (KAMs). KAM disclosure provides...

The general regulatory framework in the United States relating to corporate governance issues and the rights, duties and liabilities of corporate directors is quite complex and draws on several different bodies of law, including the state corporations law of the state in which the corporation...

This paper uses legal board size requirements to test whether board size affects firm performance and value. Since 1976, the minimum size of German firms’ supervisory boards increases from 12 to 16 directors at 10,000 domestic employees, resulting in a sharp increase in board sizes. Regression...

This paper investigates the effect of sustainable labour practices on the financial performance of listed premium board firms in Nigeria between years 2012 – 2020. This is done with a view to determine how the labour practices policy adopted by Nigerian firms influences financial performance;...

Using a sample of publicly listed firms from 2004 to 2018 in China, we find that the shareholder interlock directors, who jointly hold board positions both in the listed firm and their shareholding firms, can have a positive influence on the performance and governance of the listed firm. Our...

Increasing the participation of women in top-level corporate boards is high on the agenda of policymakers. Yet, we know little about director appointment dynamics and the drivers and impediments of women appointments. This study builds on organizational and group-level behavior theories and...

This paper analyzes the possibilities of an adverse selection perspective in the market of banking managers due to both the restatement of sanctions and the ban on interlocking directorates. The result of this research shows the risk that credit institutions will not find managers because them...

Purpose- The-Study has aim to investigate how different board diversity attributes like age, gender, education and experience effect on firm-performance of non-financial-firms that is listed in Pakistan-stock exchange (PXS).Design/methodology/approach- A total of 100 non-financial firms listed...

This paper investigates why corporations hire outside board of directors and how the outside directors affect firm performance. I use a sample of large Japanese corporations to test my hypotheses. Using a sample of 173 unique firms during the 2011-2021 period, I find that firms on average...

The authors view board structures as an adaptive institution that responds to the key challenges faced by public companies: helping management solve the problems of production and organization of large‐scale enterprise; limiting managerial agency costs; serving as a delegated monitor of the...

This study examines the factors affecting Chinese female executives' risk-taking behavior using a theoretical model with an integrated perspective. We investigate the moderating effect of board social capital (an internal factor) and the degree of marketization (an external factor) on the...

This study examines the effect of outside director tenure length on firms’ market valuation and the voting behavior of outside directors. We make use of the new rule adopted by the Korean government in 2020 that prohibits outside directors from serving more than six (nine) years in a given...

When a major acquisition is announced, investors try to understand where the value is going to come from and whether the acquirer has a plan to achieve that value. Deals are often brought to market with one big synergy number and a statement that the deal will be accretive to earnings. The...

Using quasi-natural experiments, we study how directors’ relative power or influence modulates the effects of board gender diversity. At low levels of influence, female directors have no significant impact on firm risk-taking and financial performance. However, as their influence increases...

We investigate CEO power on corporate performance in Sri Lanka, characterized by ethno-linguistic and religious boundaries and complex power hierarchies, and by ethnic conflicts and a subsequent reconciliation process. We focus on a CEO’s social-dominance power, based on ethnicity, gender, and...

Board members are becoming increasingly aware of the relevance of sustainability and the ways in which orientation toward sustainable development is fundamentally reshaping business management in almost all industries. In this emerging model, the board’s central mandate remains unchanged, but...

This paper investigates the impact of cross-border M&A on corporate board gender diversity, with a particular focus on the role of the target countries’ gender-equal culture. Using the first-difference estimation based on Chinese listed firms from 2008 to 2019, we find that acquiring targets...

We examine how board ethnic diversity impacts executive pay-to-performance sensitivity. Using firm-year observations in Australia for the period 2007-2017, we document that board ethnic diversity leads to higher executive pay-to-performance sensitivity. The finding is robust in controlling for...

This paper investigates the role of board characteristics in the relationship between tax avoidance behavior and corporate risk tolerance to elucidate the importance of corporate governance mechanisms. The applied methodology is System-GMM for 334 listed corporations in Vietnam from 2008 to 2020...

Networks play a crucial role in board promotions, yet women often are underrepresented in traditional business networks. Using matched firm-director datasets covering the population of Danish firms from 2000 to 2010, I show that family connections are an important determinant of women's access...

Based on resource dependence theory we argue for an influence of business groups (BGs) on the board composition of constituent offshore financial multinational enterprises (FMNEs). Using a unique sample of 171 Caribbean FMNEs in an inter-island BG setting, we find BGs’ control in constituent...