search query: @freeterm endogeneity / total: 9
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| Author: | Guest, P.M. |
| Title: | The impact of board size on firm performance: evidence from the UK |
| Journal: | European Journal of Finance
2009 : APR-JUN, VOL. 15:3-4, p. 385-404 |
| Index terms: | corporate governance board of directors company performance United Kingdom |
| Freeterms: | board size endogeneity |
| Language: | eng |
| Abstract: | The article explores the impact of board size on firm performance for a large sample of 2746 UK listed firms over 1981-2002. It is found that board size has a strong negative impact on profitability, Tobin's Q and share returns and no evidence that firm characteristics that determine board size in the UK lead to a more positive board size-firm performance relation. In contrast, the negative relation is strongest for large firms, which tend to have larger boards. The author demonstrates their evidence supports the argument that problems of poor communication and decision-making undermine the effectiveness of large boards. |
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