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Boards of Directors and Firm Performance: is there an expectations gap?

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Author Info

  • Niamh Brennan

Abstract

Reflecting investor expectations, most prior corporate governance research attempts to find a relationship between boards of directors and firm performance. This paper critically examines the premise on which this research is based. An expectations gap approach is applied for the first time to implicit expectations which assume a relationship between firm performance and company boards. An expectations gap has two elements: a reasonableness gap and a performance gap. Seven aspects of boards are identified as leading to a reasonableness gap. Five aspects of boards are identified as leading to a performance gap. The paper concludes by suggesting avenues for empirically testing some of the concepts discussed in this paper. Copyright (c) 2006 The Author; Journal compilation (c) 2006 Blackwell Publishing Ltd.

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Corporate Governance: An International Review.

Volume (Year): 14 (2006)
Issue (Month): 6 (November)
Pages: 577-593

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Handle: RePEc:bla:corgov:v:14:y:2006:i:6:p:577-593

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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0964-8410&site=1

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Cited by:
  1. Holm, Claus & Schøler, Finn, 2008. "Reduction of Asymmetric Information through Corporate Governance Mechanisms : The Importance of Ownership Dispersion and International," Accounting Research Center Working Papers A-2008-02, University of Aarhus, Aarhus School of Business, Department of Business Studies.
  2. Afzalur Rashid, 2013. "CEO duality and agency cost: evidence from Bangladesh," Journal of Management and Governance, Springer, vol. 17(4), pages 989-1008, November.
  3. Hsien-Chang Kuo & Lie-Huey Wang & Hui-Wen Liu, 2012. "Corporate Governance and Capital Structure:Evidence from Taiwan SMEs," Review of Economics & Finance, Better Advances Press, Canada, vol. 2, pages 43-58, August.
  4. Aila Virtanen, 2012. "Women on the boards of listed companies: Evidence from Finland," Journal of Management and Governance, Springer, vol. 16(4), pages 571-593, November.

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