haku: @indexterm Company performance / yhteensä: 1230
viite: 168 / 1230
| Tekijä: | Peng, M.W. |
| Otsikko: | Outside directors and firm performance during institutional transitions |
| Lehti: | Strategic Management Journal
2003 : MAY, VOL. 25:5, p. 453-471 |
| Asiasana: | Company performance Institutions China |
| Kieli: | eng |
| Tiivistelmä: | Do outside directors on corporate boards make a difference in company performance during institutional transitions? What leads to the practice of appointing outside directors in the absence of legal mandate? These two important questions are addressed by drawing not only on agency theory, but also resource dependence and institutional theories. Taking advantage of China's institutional transitions, the findings, based on an archival database covering 405 publicly listed companies and 1211 company-years, suggest that outsider directors do make a difference in company performance, if such performance is measured by sales growth, and that they have little impact on financial performance such as return on equity (ROE). |
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