Firm performance: do non-executive directors have minds of their own? Evidence from UK panel data.(Report)
From: Financial Management
|
Date: 9/22/2007
|
Author: Mura, Roberto
I investigate the relation between firm performance and both ownership structure and board composition. Use of the GMM methodology permits simultaneous control of both endogeneity of the independent variables and fixed effects. The data comprise an original, large, hand-collected panel dataset of UK firms for the period 1991-2001. Results indicate that the direction of causality runs from ownership and board composition to performance. I find a cubic relation between performance and ...
COPYRIGHT 2007 Financial Management Association
This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
For permission to reuse this article, contact Copyright Clearance Center.