Does Organisational Demography Affect Board Characteristics? Findings From the Manufacturing Sector in Greece

Abstract

This study examines how organisational demography (organizational age, organisational size and number of years listed in the Athens Stock Exchange, ATHEX), impacts board structure (board size, CEO duality and CEO dependence/independence). Data was collected from the annual reports of 140 manufacturing organisations, quoted in the Athens Stock Exchange in 2002. Research findings revealed a significantly positive relationship of organisational size, organisational age and number of years that a firm is listed in the Stock Exchange with board size. However, the same organisational characteristics do not seem to influence the leadership structure or dependence/independence of the Chairperson to the CEO.