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Board Size and Corporate Performance: Evidence from European Countries

Conyon, Martin and Peck, S (1998) Board Size and Corporate Performance: Evidence from European Countries. European Journal of Finance, 4 (3). pp. 291-304. ISSN 1351-847X

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Abstract

This paper examines the effects of board size on corporate performance across a number of European economies. Agency models suggest that large boards may destroy corporate value. Our fixed effects econometric evidence demonstrates that the effect of board size on corporate performance is generally negative. A negative effect is isolated for all five European countries in question when performance is measured as return on equity; this inverse relationship is more difficult to isolate using market-based measures of performance.

Item Type: Article
Journal or Publication Title: European Journal of Finance
Uncontrolled Keywords: Corporate Governance ; Boards Of Directors ; Corporate Performance
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
Departments: Lancaster University Management School > Accounting & Finance
ID Code: 54020
Deposited By: ep_importer_pure
Deposited On: 26 Jun 2012 11:45
Refereed?: Yes
Published?: Published
Last Modified: 26 Jul 2012 20:21
Identification Number:
URI: http://eprints.lancs.ac.uk/id/eprint/54020

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