The effectiveness of corporate governance: board structure and business technical efficiency in Spain

被引：25
|
作者：
Garcia-Sanchez, Isabel-Maria [1 ]
机构：
[1] Univ Salamanca, Fac Econ & Ernpresa, Salamanca 37007, Spain
来源：
CENTRAL EUROPEAN JOURNAL OF OPERATIONS RESEARCH | 2010年 / 18卷 / 03期
关键词：
Corporate governance; Boards of directors; Efficiency; Data envelopment analysis; NONPARAMETRIC FRONTIER MODELS; FIRM PERFORMANCE; CEO DUALITY; OWNERSHIP STRUCTURE; FINANCIAL PERFORMANCE; MARKET VALUATION; DIRECTORS; PRODUCTIVITY; DIVERSITY; COMPENSATION;
D O I：
10.1007/s10100-009-0112-4
中图分类号：
C93 [管理学]; O22 [运筹学];
学科分类号：
070105 ; 12 ; 1201 ; 1202 ; 120202 ;
摘要：
This study seeks to determine the effectiveness of corporate governance by analyzing the impact of board structure on firm technical efficiency. Resampling methods and bootstrapping techniques applied in Data Envelopment Analysis are used to evaluate firm performance. Truncated regressions are estimated to determine the effect of five board characteristics board size, board independence, board reputation, board diversity and board activity on efficiency. The result of this empirical study shows that business technical efficiency increases with a heterogeneous board with a limited number of directorships per director and with a limited activity specified in a reduced number of annual board meetings with a higher number of specialized committees.
引用
收藏
页码：311 / 339
页数：29
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