Article2006

Investigating the effect of board independence on performance across different strategies

162 citations0/0 files storedThe International Journal of Accounting

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Corporate Finance and Governance Auditing, Earnings Management, Governance Corporate Governance and Financial Management

Abstract

This study investigates the effect of board independence on performance across different strategies. Using moderated regression analyses, the results confirm our hypothesis that board independence has a significantly more positive effect on performance for firms pursuing a strategy of cost efficiency than for those pursuing a strategy of innovation. The results of this study indicate that consideration of firms' competitive strategy can provide a better understanding of the relationship between board independence and firm performance.

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References

1983Separation of Ownership and Control 1996Higher market valuation of companies with a small board of directors 1999Corporate governance, chief executive officer compensation, and firm performance 1988Outside directors and CEO turnover 1989Boards of Directors and Corporate Financial Performance: A Review and Integrative Model 2002Testing the pecking order theory of capital structure 1990Outside directors, board independence, and shareholder wealth 1985Corporate Governance and the Board of Directors: Performance Effects of Changes in Board Composition

Cited by

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