This paper studies the implications of directors’s expertise for optimal board structure. The expertise of directors is particularly important when the company’s management does not cooperate with the board, and directors must rely on their own judgment when making decisions. The results of this paper demonstrate that even when the board acts in its shareholders’best interests, its expertise ca...

Reformists argue that Japanese firms maintain inefficiently few outside directors, while theory suggests market competition should drive firms toward their firm-specifically optimal board structure (if any). The debate suggests three testable hypotheses. First, perhaps board composition does not matter. If so, then firm performance will show no relation to board structure, but outsiders will be...

External network ties between CEOs and directors in major U.S. corporations may limit the e¤ectiveness of internal corporate governance. Using comprehensive biographical data on the managers and directors of S&P 1500 companies, we identify connections between directors and their …rms’CEOs through external directorships, past employment, education, and other activities (e.g. golf clubs or charit...

This study aimed to examine the interaction effect of nomination committee’s effectiveness on board directors’ characteristics and firm performance (measured by return assets earnings per share). The committee was scored for separation, size, independence, meeting frequency, number female directors. selected all listed firms Bahrain Bourse two years, 2020 2021, using ordinary least-squares regr...

This study aims to determine the impact of demographic characteristics director on companys financial performance. The used are age director, proportion female directors, educational background and tenure directors. research begins with data collection. Collected is in form secondary obtained by downloading from IDX, downloaded annual report manufacturing companies 2017-2019 period. After that,...

This study investigates the influence of ownership structure and board characteristics on discretionary accruals and real earnings management using the data of A-shares in Chinese Shanghai and Shenzhen Stock Exchange Securities Market from 2002 to 2012. The empirical results show that institutions with high shareholding proportion or great shareholding concentration give managers incentives to ...