Board composition and firm performance in the Netherlands
AbstractWe analyze the relationship between performance and board composition of Dutch listed firms. Since the Netherlands has a two-tier board structure, we analyze both the impact of the size of the management board and the supervisory board. The supervisory board plays a role in (anti-) investor protection in the Dutch corporate governance system. Therefore, we use indicators of corporate governance as instrumental variables. We find that the size of the management board is not determining firm performance. We do, however, find support for a negative relationship between the size and composition (number of outsiders) of the supervisory board and firm performance.
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Bibliographic InfoPaper provided by University of Groningen, Research Institute SOM (Systems, Organisations and Management) in its series Research Report with number 01E01.
Date of creation: 2001
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2001-08-21 (All new papers)
- NEP-CDM-2001-08-21 (Collective Decision-Making)
- NEP-EEC-2001-08-21 (European Economics)
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- Khaled Elsayed, 2011. "Board size and corporate performance: the missing role of board leadership structure," Journal of Management and Governance, Springer, vol. 15(3), pages 415-446, August.
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