Ownership concentration and firm performance: the moderating effect of the monitoring and provision of resources board roles

被引：16

作者：

Guerrero-Villegas, Jaime ^{[1
]}

Giraldez-Puig, Pilar ^{[2
]}

Perez-Calero Sanchez, Leticia ^{[1
]}

Manuel Hurtado-Gonzalez, Jose ^{[1
]}

机构：

[1] Univ Pablo de Olavide, Dept Management & Mkt, Carretera Utrera,Km 1, ES-41013 Seville, Spain

[2] Univ Pablo, Dept Financial Econ & Accounting, Seville, Spain

来源：

SPANISH JOURNAL OF FINANCE AND ACCOUNTING-REVISTA ESPANOLA DE FINANCIACION Y CONTABILIDAD | 2018年 / 47卷 / 04期

关键词：

Board of directors; firm performance; monitoring role; ownership concentration; provision of resources role; CORPORATE GOVERNANCE; CEO DUALITY; INTERNATIONAL DIVERSIFICATION; INVESTOR PROTECTION; DIRECTOR EXPERIENCE; AGENCY THEORY; EQUITY; IMPACT; INCENTIVES; DIVERSITY;

D O I：

10.1080/02102412.2018.1449722

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper explores the effect that the monitoring and the provision of resources board roles have on the relationship between ownership concentration and firm performance. The sample of this study is made up of 579 European firms registered on the STOXX Europe 600 index during the period 2002-2011. The results of this study show that the monitoring provided by the board positively influences the effect that ownership concentration has on performance. The results also highlight that the moderating effect of the provision of resources role has a positive influence on firm performance concerning almost all levels of ownership concentration, diminishing and having slightly negative effects when the concentration levels are extremely high.

引用

页码：464 / 484

页数：21

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