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| Author: | Santiago-Castro, M. Young Baek, H. |
| Title: | Board composition and firm performance of large Latin American firms: an exploratory view |
| Journal: | Latin American business review
2003 : VOL. 4:2, p. 1-19 |
| Index terms: | Board of directors Company performance Large businesses Latin America |
| Language: | eng |
| Abstract: | In this article, the board composition, director tenure and CEO/chairman duality, and their association with financial performance is studied among 71 large companies from nine Latin American countries listed in the U.S. as American depository receipts (ADR). The study uses three measures of board independence and two accounting performance ratios. Results indicate that accounting performance is not associated with board composition among the companies, except that the tenure of outside directors relative to chief executive officer's (CEO) tenure has a positive effect on the return on assets (ROA). |
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