Does board independence influence financial performance in IPO firms? The moderating role of the national business system

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dc.contributor.authorZattoni, Alessandro
dc.contributor.authorWitt, Michael A.
dc.contributor.authorJudge, William Q.
dc.contributor.authorTalaulicar, Till
dc.contributor.authorChen, Jean Jinghan
dc.contributor.authorLewellyn, Krista B.
dc.contributor.authorHu, Helen Wei
dc.contributor.authorGabrielsson, Jonas
dc.contributor.authorRivas, Jose Luis
dc.contributor.authorPuffer, Sheila
dc.contributor.authorShukla, Dhirendra
dc.contributor.authorLopez, Felix
dc.contributor.authorAdegbite, Emmanuel
dc.contributor.authorFassin, Yves
dc.contributor.authorFainshmidt, Stav
dc.contributor.authorvan Ees, Hans
dc.date.accessioned2022-09-06T16:55:52Z
dc.date.available2022-09-06T16:55:52Z
dc.date.issued2017-09
dc.description.abstractPrior evidence suggests that board independence may enhance financial performance, but this relationship has been tested almost exclusively for Anglo-American countries. To explore the boundary conditions of this prominent governance mechanism, we examine the impact of the formal and information institutions of 18 national business systems on the board independence-financial performance relationship. Our results show that while the direct effect of independence is weak, national-level institutions significantly moderate the independence-performance relationship. Our findings suggest that the efficacy of board structures is likely to be contingent on the specific national context, but the type of legal system is insignificant.en_US
dc.identifier.citationZattoni, Witt, M. A., Judge, W. Q., Talaulicar, T., Chen, J. J., Lewellyn, K., Hu, H. W., Gabrielsson, J., Rivas, J. L., Puffer, S., Shukla, D., Lopez, F., Adegbite, E., Fassin, Y., Yamak, S., Fainshmidt, S., & van Ees, H. (2017). Does board independence influence financial performance in IPO firms? The moderating role of the national business system. Journal of World Business : JWB, 52(5), 628–639. https://doi.org/10.1016/j.jwb.2017.04.002en_US
dc.identifier.issn1090-9516
dc.identifier.urihttp://hdl.handle.net/11416/723
dc.language.isoen_USen_US
dc.publisherElsevier Incen_US
dc.subjectManagementen_US
dc.subjectBusinessen_US
dc.subjectEconomicsen_US
dc.titleDoes board independence influence financial performance in IPO firms? The moderating role of the national business systemen_US
dc.typeArticleen_US

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