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Ownership Structure, Board Composition and Investments Performance
Jönköping University, Jönköping International Business School, JIBS, Economics.
Jönköping University, Jönköping International Business School, JIBS, Economics. (RATIO)
Jönköping University, Jönköping International Business School, JIBS, Economics.
2009 (English)Conference paper, Published paper (Refereed)
Abstract [en]

In this paper the relation between ownership structure, board composition and firm performance is explored. A panel of Swedish listed firms is used to investigate how board composition affects firm performance. Board heterogeneity is measured as board size, age and gender diversity. The results show that Swedish board of directors have become more diversified in terms of gender. Also, fewer firms have the CEO on the board which can be interpreted as a sign of increased independency. The regression analysis shows that gender diversity has a small but negative effect on investment performance, and the same holds for CEO being on the board. The analysis also show that board size has a significant negative effect on investment performance. When incorporating all the explanatory variables into one equation however, the negative effect of larger boards dilutes the effect of gender diversity and having the CEO on the board.

Place, publisher, year, edition, pages
2009.
National Category
Business Administration
Identifiers
URN: urn:nbn:se:hj:diva-11485OAI: oai:DiVA.org:hj-11485DiVA: diva2:289666
Conference
36th Annual Conference of the European Association for Research in Industrial Economics (EARIE), 3-5 September 2009, Ljubljana, Slovenia
Available from: 2010-01-25 Created: 2010-01-25 Last updated: 2013-11-06Bibliographically approved

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