Journal ArticleDOI
Size really matters: Further evidence on the negative relationship between board size and firm value
Y.T. Mak,Yuanto Kusnadi +1 more
TLDR
In this article, the authors examined the impact of corporate governance mechanisms on the firm value of Singapore and Malaysia firms (as measured by Tobin's Q) and found that there is an inverse relationship between board size and firm value in both countries.Abstract:
This study examines the impact of corporate governance mechanisms on the firm value of Singapore and Malaysia firms (as measured by Tobin's Q ) We find little evidence of relationships between most corporate governance mechanisms and Tobin's Q However, consistent with Yermack [Higher market valuation of firms with a small board of directors J Financ Econ 40 (1996), 185–211] and Eisenberg et al [Larger board size and decreasing firm value in small firms J Financ Econ 48 (1998), 35–54], we find that there is an inverse relationship between board size and firm value in both countries This suggests that the negative relationship between board size and firm value transcends different corporate governance systemsread more
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Board and organisational performance in healthcare non-profit public organisations: the Greek perspective
TL;DR: In this article, the authors investigate how board attributes affect board and organisational performance and explore how dimensions of board effectiveness are related to organizational performance, showing some clear relationships between board attributes, board performance and some aspects of organizational performance.
Cuadernos de Gestión
TL;DR: In fact, uno de los motivos de mayor peso que inducen a las organizaciones a la implantación de sistemas de gestion medioambiental es la presion ejercida por los...
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Does corporate governance affect financial performance of firms? A large sample evidence from India
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Does financial performance moderate the relationship between board attributes and corporate social responsibility in French firms
TL;DR: In this article, the authors examined the impact of financial performance on the relationship between board attributes and corporate social responsibility (CSR) and found that board size, board independence, female board representation and CEO-chair duality are positively associated with CSR.
Analysis of Corporate Governance and Firm Performance : Evidence from Malaysian Listed Companies
TL;DR: In this paper, the authors analyzed the relationship between board characteristics and firm performance in Malaysia listed companies using Pearson correlation coefficient, panel regression analysis (fixed effect&random effect), OLS Model, Breusch and Pagan Lagrangian Multiplier (LM), Hausman Test, Specification Test and Diagnostic Test (Multi-collinearity, Heteroscedasticity and Serial Correlation).
References
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Journal ArticleDOI
Management Ownership and Market Valuation: An Empirical Analysis
TL;DR: This article investigated the relationship between management ownership and market valuation of the firm, as measured by Tobin's Q. In a 1980 cross-section of 371 Fortune 500 firms, they found evidence of a significant nonmonotonic relationship.
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The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems
TL;DR: The last two decades indicate corporate internal control systems have failed to deal effectively with these changes, especially slow growth and the requirement for exit as mentioned in this paper, which is a major challenge for Western firms and political systems as these forces continue to work their way through the worldwide economy.
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Higher market valuation of companies with a small board of directors
TL;DR: In this paper, the authors present evidence consistent with theories that small boards of directors are more effective, using Tobin's Q as an approximation of market valuation, and find an inverse association between board size and firm value in a sample of 452 large U.S. industrial corporations.
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Additional evidence on equity ownership and corporate value
John J. McConnell,Henri Servaes +1 more
TL;DR: The authors investigated the relation between Tobin's Q and the structure of equity ownership for a sample of 1,173 firms for 1976 and 1,093 firms for 1986 and found a significant curvilinear relation between Q and common stock owned by corporate insiders.
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The separation of ownership and control in east asian corporations
TL;DR: The authors examined the separation of ownership and control for 2,980 corporations in nine East Asian countries and found that voting rights frequently exceed cash-ow rights via pyramid structures and cross-holdings.