Board Leadership Structure and Firm Performance: Moderating Effects of Board Independence

IF 1.2 Q3 BUSINESS, FINANCE

Journal of Emerging Market Finance Pub Date : 2023-08-14 DOI:10.1177/09726527231190690

Akshita Arora

引用次数: 0

Abstract

Our study examines the impact of dual leadership on the company’s performance. We also investigate the moderating effects of board independence on duality and firm-performance relationship. The article uses a panel data framework, and the estimation has been carried out using system-generalized methods of moments. The results of our study postulate that dual leadership negatively influences firm performance; however, when the moderator, board independence, is introduced in the empirical model, it affects firm performance positively. We submit that the extensive and complete abolition of CEO duality by Indian regulators may require caution for Indian markets. JEL Codes: G34, L25, C33

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董事会领导结构与公司绩效:董事会独立性的调节效应

我们的研究考察了双重领导对公司业绩的影响。我们还研究了董事会独立性对二元性和公司绩效关系的调节作用。本文使用了面板数据框架，并使用系统广义矩方法进行了估计。我们的研究结果假设双重领导对企业绩效产生负面影响；然而，当在实证模型中引入调节因子董事会独立性时，它对企业绩效产生了积极影响。我们认为，印度监管机构广泛彻底废除CEO双重性可能需要印度市场谨慎行事。JEL代码：G34、L25、C33

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Emerging Market Finance BUSINESS, FINANCE-

CiteScore

1.80

自引率

33.30%

发文量

期刊介绍： The Journal of Emerging Market Finance is a forum for debate and discussion on the theory and practice of finance in emerging markets. While the emphasis is on articles that are of practical significance, the journal also covers theoretical and conceptual aspects relating to emerging financial markets. Peer-reviewed, the journal is equally useful to practitioners and to banking and investment companies as to scholars.