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This study examines the impact of board characteristics on the environmental, social, and governance (ESG) performance of publicly listed companies in Indonesia. Focusing on firms listed in the KOMPAS100 index, the research explores how board composition, including the number of directors and commissioners, gender diversity, independence, the presence of foreign members, and the sustainability committee, influences ESG scores. Using data from Sustainalytics, financial reports, and sustainability reports, the analysis includes control variables such as public shares, return on assets, leverage, firm age, firm size, and state ownership. Significant correlations were discovered between the characteristics of the board, the sustainability committee, and the ratings related to environmental, social, and governance factors (ESG). Companies that have larger boards, a higher proportion of female and independent directors, and international members exhibit superior environmental, social, and governance (ESG) performance. Sustainability committees contribute to the improvement of ESG outcomes. The findings indicate that implementing well-organized governance systems and having diverse board compositions are essential for successfully managing sustainability. The study utilized regression models to examine the influence of board features on ESG performance. Data from the KOMPAS100 index, which includes prominent Indonesian companies, was used for analysis. This empirical investigation offers useful insights into the ways in which corporate governance frameworks can influence sustainable business practices in the Indonesian context. Policymakers are advised to establish policies that encourage the formation of board diversity and sustainability committees. Corporate executives are recommended to optimize the composition of their boards in order to align with sustainability objectives, consequently enhancing environmental, social, and governance (ESG) performance and attaining competitive advantages. [ABSTRACT FROM AUTHOR]

In the aftermath of banking failures in Africa, the survival of firms has thus been placed with the application of good corporate governance practice and the oversight role of internal and external auditors. This study examines whether audit quality is related to corporate board of directors and financial reporting timeliness in the context of developing countries. Using sample data from 21 universal banks in Ghana and 31 commercial banks in Kenya for the periods 2010 to 2019. The study employs the Generalized Least Square(GLS), using fixed effect to estimate the relationships. The empirical results document that board size, average 9, and board independence, 59% on average, increase audit quality in Africa. However, the relationship between board gender and audit quality is not significant. Financial report lag is not significant to audit quality in Africa. However, financial report lag in Kenya is negative and significant to quality audit. Our findings recommend that commercial banks in Africa should implement policies that would increase the size of their boards and the number of independent directors to enhance maximum benefits from good corporate governance practices. [ABSTRACT FROM AUTHOR]

We explored the relationship between board characteristics and sustainability of higher education institutions in the United Kingdom (UK). We analysed 153 UK universities using data for the year 2019. Our analysis revealed that board size, the number of students on the board, and the number of academic members on the board were found to have significant and positive relationships with sustainability. Also, the composition of the sustainability committee was shown to have a significant and positive impact on sustainability score. However, the relationships between board gender diversity, the number of external members on the board, and the number of board meetings held during the year with sustainability score were not significant. The results provide guidance to universities for developing their sustainability practices. [ABSTRACT FROM AUTHOR]

The relationship between board characteristics and micro-level organizational factors is an area that has been significantly under-researched, and there is a lack of understanding of how these two elements interact with each other. Hence, we aim to explore how board characteristics could potentially have an impact on individual-level job satisfaction. The dataset used for this study encompasses a total of 4020 observations gathered from 804 companies listed in the FTSE 350 and S&P 500 indices, and it covers the period spanning from 2016 to 2021. The results of the adopted multiple regression analysis showed significant positive relationships between board gender diversity, diversity of specific skills, board independence, board meeting attendance, board size, and average board tenure and employees' job satisfaction of the companies under analysis. However, cultural diversity was not found to have a significant impact on employees' satisfaction. We draw out the theoretical implications of these findings and provide practical recommendations regarding companies' boards composition and structure that help them to enhance the level of their employees' job satisfaction. [ABSTRACT FROM AUTHOR]

This study develops a recent database of corporate inversions, and we descriptively explore three different corporate inversion timeframes from 1982 to 2022. We examine how the external governance mechanism of the legal environment has impacted the structure, destination countries, industry preference, and firm-level effects of inverting firms over these timeframes. In addition, we highlight the various internal corporate governance mechanisms (board characteristics) and common accounting variables and ratios during these same periods. We find that inverting firms' boards during our later inversion period of 2018–2022 are smaller and less experienced and accounting ratios exhibit riskier profiles than the earlier inversion time periods. Besides building on the inversion literature, our findings should be of interest to practitioners and regulators who are interested in the current trends of inversions and we highlight new industry clustering in the manufacturing and service sectors and new inversions comprise mostly cannabis companies in the wake of conflicting federal, state and securities laws. [ABSTRACT FROM AUTHOR]

The purpose of research is to study how the board characteristics conditionally impact the firm performance with primary moderator ownership concentration and secondary moderator shariah compliance in the Pakistani equity market from 2010 to 2021. The study entails board characteristics, including the size of the board, women's directorship, independent audit committees, and independent non-executive directors. It employs Tobin's Q (TQ) as a measure for firm value and the moderated moderation model 3 of Hayes (2017) to determine the conditional effect. The results show significant negative conditional effect of board size and positive significant conditional effect of female representation on TQ, and insignificant conditional effects of independent audit committees and independent directors on TQ. [ABSTRACT FROM AUTHOR]

Background and Purpose: This study aims to investigate the effect of family ownership, board characteristics (board foreign experience and board accounting expertise), and top management characteristics (management education level) on the quality of website Corporate Social Responsibility (CSR) disclosure via corporate website among the top companies listed in the Indonesia Stock Exchange (IDX). This study adds to the body of literature by examining the moderating effect of family ownership towards the relationship between board characteristics and website CSR disclosure, which is useful for investors who might have concerns on the level of CSR disclosure as a gauge of firm ethics, particularly in respect to family-owned firms. Methodology: Sample of this study consisted of 100 non-financial companies listed in Indonesia Stock Exchange (IDX) for the year of 2019. To test the study's hypothesis, multiple linear regression analysis was applied. Findings: Empirical results from this study have shown that family ownership is negatively related to the quality of website CSR disclosure. Board foreign experience has a positive effect on CSR disclosure practices in their respective corporate websites. Meanwhile, top management education level was found to have a negative and statistically significant relationship with the quality of voluntary website CSR disclosure. Lastly, this study demonstrated that family ownership moderates the relationship between board accounting expertise and the quality of CSR disclosure on corporate websites. Contributions: This study contributes to the literature on CSR disclosure by introducing a set of index measuring the quality of voluntary website CSR disclosure, which captures not only the variety, but also the richness of CSR information. The moderating role of family ownership on such relationships, which is rarely investigated in the context of developing countries, was also explored by this study. [ABSTRACT FROM AUTHOR]

There is distinctiveness among empirical studies on the relationship between board leadership structure, board diligence, and firms' cash decisions, particularly in Nigeria. This study focused on how board leadership structure and board diligence affect components of firms' cash decisions (operating, investing and financing cash flows) of quoted non-finance companies in Nigeria. Data were obtained for seventy-four (74) companies for the period 2010-2019. Analyses were based on descriptive statistics and inferential statistics (ordinary least square, dynamic panel data modelling, and Hausman specification test). Overall, the Wald statistics showed that board diligence and board leadership structure insignificantly affect cash decisions. However, board diligence significantly affects financing cash flow decision as a component of cash decisions. Given the findings, it was recommended that firms should discourage the practice of dual leadership structure as it decreases firm's cash flow decision. Also, there is need to moderate board meetings of companies. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to investigate the effect of the nature of ownership and board characteristics on the investment choices in joint ventures (JVs) from the dimensional point of view, controlling for the effect of JV type and other components of intellectual capital. Design/methodology/approach: The authors study a sample of Italian, Spanish, German and French nonfinancial listed firms over the 2010–2018 period, controlling for the fixed effects of the company's sector of operation and the year. The authors also analyze the effect of family control and influence on JV investment size, taking into consideration certain board characteristics, the type of JV, human capital efficiency, structural capital efficiency and capital employed efficiency while also controlling for a firm's profitability and size. To test the hypotheses, GLS panel data was used. Findings: The results indicate that the size of the investment in JVs is smaller for family firms than for nonfamily businesses. The presence of CEO duality has an opposing effect on the size of the investment in joint ventures as it has a lowering effect in family businesses while it exerts an amplifier influence in nonfamily businesses. Moreover, the type of joint venture has a significant effect for family firms: the choice of a link joint venture reduces the size of the investment. The authors find that human capital efficiency increases JV investment size for all firms. Originality/value: This study is the first to analyze the effect of the main dimension of socioemotional wealth – family control and influence – on a firm's JV investment size. It controls for the effect of JV type – link or scale – and the interplay of the other IC components. [ABSTRACT FROM AUTHOR]

This study tries to examine the empirical relationship between corporate governance and financial performance of Indian firms by developing a corporate governance index (CGI) based on a variety of corporate governance characteristics. Such characteristics include board structure, ownership structure, director participation and busyness, market for external control, and product market competition. We employ a panel dataset for Indian non-financial firms listed on the National Stock Exchange for the period 2010–2018. Using a System GMM dynamic panel approach, we analyse the relationship of CGI with different firm performance measures including market-based performance measures like Tobin's Q (TQ), and accounting-based performance measures like Return on Assets (ROA) and Return on Net Worth (RONW). Based on the empirical results, we find a significant positive relationship of corporate governance index (CGI) with ROA and RONW and significant negative relationship with TQ. Lastly, the CGI used by our study is based on a broad spectrum of dimensions of corporate governance and serves as a direction for business houses and shareholders to work towards governance practices leading to better financial performance of the firms. [ABSTRACT FROM AUTHOR]

This paper investigated the relationship between board characteristics and corporate performance of firms in Palestine. The degree to which the board is effective in performing its duties and tasks depends on several factors manifested by certain characteristics. Particularly, this research examined the impact of CEO duality, board size, board independence, board gender diversity, board academic background, and frequency of board meetings on the level of corporate performance. The sample encompassed all firms listed in the Palestine Stock Exchange (PSE) with available data for the years 2012 to 2014 with total 141 firm-year observations. The data was manually collected from the audited annual reports downloaded from PSE website. Generalized least square estimators were obtained for the multiple-linear relationship between board characteristics and firm performance. The results indicate that corporate performance of Palestinian listed firms is positively related to board duality, board gender diversity, and number of board meetings. Meanwhile, board size, board independence and board academic background seem to negatively affect performance. The results are consistent with the stewardship theory where the board plays a supportive role by empowering executives leading to, potentially, higher performance. In this context decisions are executed faster, the ambiguity between the processes and the objectives of the firm is reduced and performance is enhanced. Our results have an implication to any future corporate governance code setting. The stewardship theory not the agency theory should guide the lawmakers in constructing any new legislation related to corporate governance. [ABSTRACT FROM AUTHOR]

This study examines the corporate governance characteristics and its influence on the intellectual capital (IC) performance for a sample of 95 firms listed on National Stock Exchange in India. The corporate governance (CG) characteristics are represented through board size, independence of directors, frequency of board meetings, remuneration of directors and composition of board. The impact of these CG characteristics on the performance of intellectual capital and its components is studied for a 7-year period, i.e. FY2010-2011 to FY2016-2017, using panel regression. The research findings provide clear evidence that CG characteristics influence the IC performance of only large-cap firms in India. Further, board size and independence of directors are seen to have the most significant impacts. Board size is negatively associated with IC performance of large-cap firms. Capital expended efficiency and productivity of midcap firms are observed to have a significant inverted-U relation with board size. The relative significance of various other CG factors varies for IC as well as its sub-components. The findings of this study are important because it gives a strong empirical evidence for regulatory authorities in India to strictly monitor the compliance of rules on structure and composition of the board of directors besides just laying down broad guidelines for the listed companies. This also serves as the first research work to justify the significance of corporate governance on IC performance of firms in India. One of the limitations of this research is inability to incorporate several other characteristics of board such as duality and detailed profile of board members due to non-availability of time-series data for all the firms. [ABSTRACT FROM AUTHOR]

The objective of this study is to examines the relationship between board characteristics and firm performance. The study used data of 146 public listed firms in Istanbul stock exchange for the period of 2011- 2015. The study utilised cross sectional time-series feasible generalized least squire regression, which count for autocorrelation and heteroscedasticity to examine the influence of board characteristics in firm performance in Turkey. This study results reflect that board attributes proxies by interlocking directorship, education level and board size improve firm performance. This study finds insignificant relationship between independent directors and firm performance. The finding of this study has policy and practical implication on corporate governance. For example, future regulation reforms might consider board attributes instead of the concentrate on more independent directors to work in the board of directors. [ABSTRACT FROM AUTHOR]

Using data from a single database of Colombian firms, we confirmed an endogenous relationship between specific board characteristics, compliance with corporate governance guidelines, and firm performance. A board comprising experts without conflicts of interest is more likely to control ethical behavior, implement audit committees, review compliance with accepted accounting standards, and approve and control the firm's strategic planning, all of which will lead to an improvement in firm results, and engagement and retention of higher quality board members. Conclusions have strong implications for public policy and managerial practice. [ABSTRACT FROM AUTHOR]

The present study investigates the impact of board characteristics on environmentally friendly production. The current research uses secondary data extracted from the Refinitiv Eikon database. The data is extracted from the database for a sample of 8094 corporates from 2 continents, Asia and Europe, from 2016 to 2021. Panel data analysis with fixed effect models is used to estimate the results. The findings reveal that board size, independence, and industry expertise significantly impact environmentally friendly production. The results also indicate that board diversity correlates positively with environmentally friendly production in European corporates but negatively in Asian corporates. Findings show that the moderating role of environmental teams has a greater interaction effect with board characteristics in Europe than in Asia. Finally, the results also show that higher environmental performance and environmental, social, and governance scores lead to higher levels of environmentally friendly production. The study has valuable insights and implications for board members, practitioners, academicians, and policymakers. Further, the study contributes to the strand literature by investigating the role of environmental teams on the relationship between board characteristics and environmentally friendly production. The findings are supported by agency, legitimacy, and stakeholder theories, which contribute to a better understanding of the relationship between board characteristics and environmentally friendly production. The evidence about this issue is still unknown and critical, particularly in the context of developing countries where there is a lack of regulatory enforcement related to environmental, social, and governance disclosures. [Display omitted] • Examines the moderating effect of environmental teams on the relationship between board characteristics and environmentally friendly production. • Larger board size, independence, diversity, and industry expertise significantly and positively impact environmentally friendly production. • There is a significant association between greater environmental, social, and governance, and higher levels of environmentally friendly production. [ABSTRACT FROM AUTHOR]

This article suggests that larger, better-governed, and lower ownership concentration companies have less homogeneous and passive boards, but pay more to their senior managers and directors. These companies probably need better-paid professionals to cope with more complex compliance and business environments. We create two categorical variables named homogeneity and passivity scores that aggregate hand collected board member characteristics. More homogeneous and passive boards may grant larger director and senior management compensations under the managerial power hypothesis. On the other hand, larger and value increasing companies may pay more to their senior managers. Our findings suggest that less homogeneous and passive boards grant larger compensations in univariate tests. These results, however, do not transpire in multivariate tests. More homogeneous and passive boards are more frequent in smaller and higher ownership concentration companies, with poorer corporate governance and disclosure practices. It is possible that financial disclosure practices are more important then board characteristics. These results highlight the importance of disclosure and transparency efforts to improve investor relations and reduce the cost of capital in a high ownership concentration country. [ABSTRACT FROM AUTHOR]

This article employed multiple regression analysis to investigate the variables that significantly determine the effectiveness of the board of directors in listed companies in the Middle East with a particular focus on the United Arab Emirates (UAE). This empirical study revealed significant links between board and shareholder characteristics and company performance as measured by the price-earnings ratio. Board processes and the presence of private institutional investors proves to be the central factors for board effectiveness. The structural aspects of the board such as size and composition are shown not to be significant for shaping board output. [ABSTRACT FROM AUTHOR]