IDEAS home Printed from https://ideas.repec.org/a/eee/transe/v176y2023ics1366554523001758.html
   My bibliography  Save this article

Board structure and financial performance in the logistics sector: Do contingencies matter?

Author

Listed:
  • Govindan, Kannan
  • Karaman, Abdullah S.
  • Uyar, Ali
  • Kilic, Merve

Abstract

Drawing on agency, stewardship, and contingency theories, this study examined whether board structure is associated with corporate financial performance and—if so—whether firm size and leverage (i.e., contingencies) moderate this association in the logistics sector. Hence, the study aimed to provide implications for board configuration and performance enhancement at varying levels of firm size and leverage. The data were retrieved from the Thomson Reuters Eikon database, and the generalized method of moments (GMM) estimator was applied to these data. The results revealed that while independent directors augment corporate financial performance, female directors and chief executive officer (CEO) duality do not. The first moderation analysis concerning firm size indicated that women drive firm performance in neither large nor small firms with the exception of sales revenues, which they improve in large firms. Independent directors, on the other hand, were shown to drive firm performance in larger firms. CEO duality was revealed to be particularly influential in boosting sales revenues in large logistics firms. The second moderation analysis detected no disciplinary effect of leverage on board structure in the logistics sector. Based on the findings, theoretical, managerial, and policymaking implications are suggested for the logistics sector.

Suggested Citation

  • Govindan, Kannan & Karaman, Abdullah S. & Uyar, Ali & Kilic, Merve, 2023. "Board structure and financial performance in the logistics sector: Do contingencies matter?," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 176(C).
    • Handle: RePEc:eee:transe:v:176:y:2023:i:c:s1366554523001758
    DOI: 10.1016/j.tre.2023.103187
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1366554523001758
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.tre.2023.103187?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:transe:v:176:y:2023:i:c:s1366554523001758. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/600244/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.