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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]

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 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]

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]