Abstract
This paper explores the relation between ownership structure, board composition and firm performance among Swedish listed firms. The descriptive statistics show that Swedish board of directors has become more diversified in terms of gender. The analysis shows that board size has a significant negative effect on investment performance. Gender diversity has a small but negative effect on investment performance, and the same holds for CEO being on the board. When incorporating all the explanatory variables into the same equation the negative effect of larger boards dilutes the effect of gender diversity and having the CEO on the board.
Subject
General Business, Management and Accounting
Reference23 articles.
1. BILIMORIA, D. and WHEELER, J. V. (2000). 'Women Corporate Directors: Current Research and Future Directions', in DAVIDSON M J and BURKE R J (eds.), Women in Management: Current Research Issues, . Paul Chapman Publishers, London, pp. 138- 163.
2. BJUGGREN, P.-O., EKLUND, J. and WIBERG, D. (2007). 'Ownership structure, control and firm performance: the effects of vote differentiated shares', Applied Financial Economics, Vol. 17, pp. 1323-1334.
3. BØHREN, Ø. and STRØM, R. Ø. (2005 ). The value creating board: theory and evidence BI Norwegian School of Management. Department of Financial Economics, Oslo.
4. CARTER, D. A., SIMKINS, B. J. and SIMPSON, W. G. (2003). 'Corporate Governance, Board Diversity and Firm Value', The Financial Review, Vol. 38, pp. 33-53.
5. DALTON, D. R., DAILY, C. M., ELLSTRAND, A. E. and JOHNSON, J. L. (1998). 'Meta-analytic reviews of board composition, leadership structure and financial performance ', Strategic Management Journal, Vol. 19, pp. 269-290.
Cited by
19 articles.
订阅此论文施引文献
订阅此论文施引文献，注册后可以免费订阅5篇论文的施引文献，订阅后可以查看论文全部施引文献