Board of directors and firm performance: a dynamic approach

Acero Fraile, Isabel (Universidad de Zaragoza) ; Alcalde, Nuria (Universidad de Zaragoza)

Resumen: This paper analyses how board structure influences firm performance, considering the effect of dynamic endogeneity. For a sample of listed Spanish firms, the study did not find that board structure had any effect on the value of the firm, when controlling for dynamic endogeneity. The research results show the need to use appropriate econometric techniques (dynamic models) to avoid obtaining incorrect or biased results. They also show that each firm must determine the size and structure of the board given its own advice and control needs.

Idioma: Inglés

DOI: 10.1504/IJBGE.2023.10060656

Año: 2023

Publicado en: International Journal of Business Governance and Ethics (2023), [20 pp.]
ISSN: 1477-9048

Factor impacto CITESCORE: 1.9 - Business and International Management (Q3) - Strategy and Management (Q3) - Organizational Behavior and Human Resource Management (Q3)

Factor impacto SCIMAGO: 0.257 - Business and International Management (Q3) - Strategy and Management (Q3) - Organizational Behavior and Human Resource Management (Q3)

Financiación: info:eu-repo/grantAgreement/ES/DGA/S52-23R
Financiación: info:eu-repo/grantAgreement/ES/MICINN/PID2021-123154NB-I00

Tipo y forma: Article (PostPrint)

Área (Departamento): Área Organización de Empresas (Dpto. Direcc.Organiza.Empresas)