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Board composition and corporate performance: how the Australian experience informs contrasting theories of corporate governance

Kiel, Geoffrey C. & Nicholson, Gavin J. (2003) Board composition and corporate performance: how the Australian experience informs contrasting theories of corporate governance. Corporate Governance: An International Review, 11(3), pp. 189-205.

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Abstract

In many respects, Australian boards more closely approach normative "best practice" guidelines for corporate governance than boards in other Western countries. Do Australian firms then demonstrate a board demographic-organisational performance link that has not been found in other economies? We examine the relationships between board demographics and corporate performance in 348 of Australia’s largest publicly listed companies and describe the attributes of these firms and their boards. We find that, after controlling for firm size, board size is positively correlated with firm value. We also find a positive relationship between the proportion of inside directors and the market-based measure of firm performance. We discuss the implications of these finding and compare our findings to prevailing research in the US and the UK.

Impact and interest:

118 citations in Scopus
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45 citations in Web of Science®

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ID Code: 5019
Item Type: Journal Article
Additional URLs:
Keywords: Boards of directors, corporate governance, corporate performance
DOI: 10.1111/1467-8683.00318
ISSN: 1467-8683
Subjects: Australian and New Zealand Standard Research Classification > LAW AND LEGAL STUDIES (180000) > LAW (180100)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Business and Management not elsewhere classified (150399)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
Copyright Owner: Copyright 2003 Blackwell Publishing
Copyright Statement: The definitive version is available at www.blackwell-synergy.com
Deposited On: 14 Sep 2006
Last Modified: 29 Feb 2012 23:23

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