Journal ArticleDOI
Board director disciplinary and cognitive influence on corporate value creation
TLDR
In this paper, the authors investigate board director disciplinary and cognitive influence on corporate value creation and reveal that the board of directors contributes significantly to corporate value-creation, particularly when there is a mix of independent, female and management-qualified directors.Abstract:
Purpose
This paper aims to investigate board director disciplinary and cognitive influence on corporate value creation.
Design/methodology/approach
Fixed-effect regressions are used to check whether gender diversity, education, independence and size of the board of directors affect measures of corporate value creation.
Findings
The empirical results show that corporate value creation is positively influenced by the cross effect of the board independence and the presence of women. They also point out a positive impact of the cross effect of board independence and management education. They reveal that the board of directors contributes significantly to corporate value creation, particularly when there is a mix of independent, female and management-qualified directors.
Originality/value
The evidence presented and discussed in this paper should be of interest to managers and regulators. The methodological approach and the empirical results extend the existing literature. They enrich the limited empirical research devoted to this theme, especially in a continental European context, i.e. France. They shed light on the effect of board of directors’ disciplinary and cognitive influence on corporate value creation.read more
Citations
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Journal ArticleDOI
Intellectual capital of a board of directors and its elements: introduction to the concepts
TL;DR: In this article, the authors defined the contribution of intellectual capital (IC) of the board of directors (BDs) in generating IC of a company, and developed a definition of the IC of the BDs, as well as two of its major elements: human capital (knowledge, skills, and experience of board members, etc.), and social capital (relationships and networking opportunities of board member), and clarified the relationship between these elements and financial performance indicators of companies.
Journal ArticleDOI
Measuring the impact of board characteristics on the performance of Croatian insurance companies
TL;DR: In this article, the impact of board gender diversity and size on the performance of the insurance companies in Croatia was analyzed using a dynamic panel model, and it was found that women acting as presidents of supervisory board deteriorate insurer's performance measured by return on assets (ROA).
Journal ArticleDOI
Women on Boards of Directors: A Meta-Analytic Examination of the Roles of Organizational Leadership and National Context for Gender Equality
TL;DR: In this paper, the authors integrate psychological theory related to implicit biases and agency theory, with institutional theory to propose that the national context for gender equality moderates the extent to which characteristics of organizational leadership relate to female board representation.
Journal ArticleDOI
Board feminization and innovation through corporate venture capital investments: the moderating effects of independence and management skills
TL;DR: In this paper, the authors investigate the relationship between board feminization and innovation through corporate venture capital (CVC) investments, as well as the moderating effects on this relationship of independence and management skills.
Journal ArticleDOI
Foreign board members and firm innovativeness: An exploratory analysis for setting a research agenda
TL;DR: In this paper, the authors assess the often repeated, but empirically unconfirmed, supposition that there is a positive connection between foreign board members (FBMs) and firm innovativeness, and set a research agenda for future studies on the topic.
References
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Journal ArticleDOI
A Dynamic Theory of Organizational Knowledge Creation
TL;DR: In this paper, the authors propose a paradigm for managing the dynamic aspects of organizational knowledge creating processes, arguing that organizational knowledge is created through a continuous dialogue between tacit and explicit knowledge.
Book ChapterDOI
The Core Competence of the Corporation
C. K. Prahalad,Gary Hamel +1 more
TL;DR: The most powerful way to prevail in global competition is still invisible to many companies as discussed by the authors, which is why the concept of the corporation itself has not yet been recognized as a powerful competitive advantage.
Posted Content
Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers
TL;DR: In this paper, the benefits of debt in reducing agency costs of free cash flows, how debt can substitute for dividends, why diversification programs are more likely to generate losses than takeovers or expansion in the same line of business or liquidationmotivated takeovers, and why the factors generating takeover activity in such diverse activities as broadcasting and tobacco are similar to those in oil.
Journal ArticleDOI
Separation of ownership and control
Eugene F. Fama,Michael C. Jensen +1 more
TL;DR: The authors argue that the separation of decision and risk-bearing functions observed in large corporations is common to other organizations such as large professional partnerships, financial mutuals, and nonprofits. But they do not consider the role of decision agents in these organizations.
Book
The External Control of Organizations: A Resource Dependence Perspective
TL;DR: The External Control of Organizations as discussed by the authors explores how external constraints affect organizations and provides insights for designing and managing organizations to mitigate these constraints, and it is the fact of the organization's dependence on the environment that makes the external constraint and control of organizational behavior both possible and almost inevitable.
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