Board Independence And Firm Performance: The Moderating Effect Of Institutional Context
This study proposes a new research approach to examine the relationship between board independence and corporate performance, measured by technical efficiency. Moreover, this paper examines the moderating role that institutional factors exert on this relationship through the legal system—the content...
- Autores:
-
Uribe Bohorquez, Maria Victoria
Martínez Ferrero, Jennifer
García Sanchez, Isabel Maria
- Tipo de recurso:
- Article of journal
- Fecha de publicación:
- 2018
- Institución:
- Corporación Universidad de la Costa
- Repositorio:
- REDICUC - Repositorio CUC
- Idioma:
- eng
- OAI Identifier:
- oai:repositorio.cuc.edu.co:11323/1145
- Acceso en línea:
- http://hdl.handle.net/11323/1145
https://doi.org/10.1016/j.jbusres.2018.03.005
https://repositorio.cuc.edu.co/
- Palabra clave:
- Board Independence
DEA
Efficiency
Institutional Factors
- Rights
- openAccess
- License
- Atribución – No comercial – Compartir igual
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oai:repositorio.cuc.edu.co:11323/1145 |
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RCUC2 |
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REDICUC - Repositorio CUC |
repository_id_str |
|
dc.title.eng.fl_str_mv |
Board Independence And Firm Performance: The Moderating Effect Of Institutional Context |
title |
Board Independence And Firm Performance: The Moderating Effect Of Institutional Context |
spellingShingle |
Board Independence And Firm Performance: The Moderating Effect Of Institutional Context Board Independence DEA Efficiency Institutional Factors |
title_short |
Board Independence And Firm Performance: The Moderating Effect Of Institutional Context |
title_full |
Board Independence And Firm Performance: The Moderating Effect Of Institutional Context |
title_fullStr |
Board Independence And Firm Performance: The Moderating Effect Of Institutional Context |
title_full_unstemmed |
Board Independence And Firm Performance: The Moderating Effect Of Institutional Context |
title_sort |
Board Independence And Firm Performance: The Moderating Effect Of Institutional Context |
dc.creator.fl_str_mv |
Uribe Bohorquez, Maria Victoria Martínez Ferrero, Jennifer García Sanchez, Isabel Maria |
dc.contributor.author.spa.fl_str_mv |
Uribe Bohorquez, Maria Victoria Martínez Ferrero, Jennifer García Sanchez, Isabel Maria |
dc.subject.eng.fl_str_mv |
Board Independence DEA Efficiency Institutional Factors |
topic |
Board Independence DEA Efficiency Institutional Factors |
description |
This study proposes a new research approach to examine the relationship between board independence and corporate performance, measured by technical efficiency. Moreover, this paper examines the moderating role that institutional factors exert on this relationship through the legal system—the content of law and its enforcement. The research questions are examined using an international sample of 2185 firms from 2006 to 2015, applying truncated regression models for panel data and employing data envelopment analysis to examine efficiency as a measure of performance. This paper supports that board independence increases the firm's technical efficiency. Even more, greater legal and judicial protection exerts a positive moderating effect on the previous relationship by protecting private benefits for insiders, among other aspects. Thus, the positive impact of independent directors on efficiency is greater when firms operate in countries with a greater extent of law and enforcement. Our findings include endogeneity checks using instrumental variables. |
publishDate |
2018 |
dc.date.accessioned.none.fl_str_mv |
2018-11-16T20:18:20Z |
dc.date.available.none.fl_str_mv |
2018-11-16T20:18:20Z |
dc.date.issued.none.fl_str_mv |
2018-03-07 |
dc.type.spa.fl_str_mv |
Artículo de revista |
dc.type.coar.fl_str_mv |
http://purl.org/coar/resource_type/c_2df8fbb1 |
dc.type.coar.spa.fl_str_mv |
http://purl.org/coar/resource_type/c_6501 |
dc.type.content.spa.fl_str_mv |
Text |
dc.type.driver.spa.fl_str_mv |
info:eu-repo/semantics/article |
dc.type.redcol.spa.fl_str_mv |
http://purl.org/redcol/resource_type/ART |
dc.type.version.spa.fl_str_mv |
info:eu-repo/semantics/acceptedVersion |
format |
http://purl.org/coar/resource_type/c_6501 |
status_str |
acceptedVersion |
dc.identifier.issn.spa.fl_str_mv |
01482963 |
dc.identifier.uri.spa.fl_str_mv |
http://hdl.handle.net/11323/1145 |
dc.identifier.doi.spa.fl_str_mv |
https://doi.org/10.1016/j.jbusres.2018.03.005 |
dc.identifier.instname.spa.fl_str_mv |
Corporación Universidad de la Costa |
dc.identifier.reponame.spa.fl_str_mv |
REDICUC - Repositorio CUC |
dc.identifier.repourl.spa.fl_str_mv |
https://repositorio.cuc.edu.co/ |
identifier_str_mv |
01482963 Corporación Universidad de la Costa REDICUC - Repositorio CUC |
url |
http://hdl.handle.net/11323/1145 https://doi.org/10.1016/j.jbusres.2018.03.005 https://repositorio.cuc.edu.co/ |
dc.language.iso.none.fl_str_mv |
eng |
language |
eng |
dc.rights.spa.fl_str_mv |
Atribución – No comercial – Compartir igual |
dc.rights.accessrights.spa.fl_str_mv |
info:eu-repo/semantics/openAccess |
dc.rights.coar.spa.fl_str_mv |
http://purl.org/coar/access_right/c_abf2 |
rights_invalid_str_mv |
Atribución – No comercial – Compartir igual http://purl.org/coar/access_right/c_abf2 |
eu_rights_str_mv |
openAccess |
dc.publisher.spa.fl_str_mv |
Journal Of Business Research |
institution |
Corporación Universidad de la Costa |
bitstream.url.fl_str_mv |
https://repositorio.cuc.edu.co/bitstream/11323/1145/1/Board%20Independence%20And%20Firm%20Performance.pdf https://repositorio.cuc.edu.co/bitstream/11323/1145/2/license.txt https://repositorio.cuc.edu.co/bitstream/11323/1145/4/Board%20Independence%20And%20Firm%20Performance.pdf.jpg https://repositorio.cuc.edu.co/bitstream/11323/1145/5/Board%20Independence%20And%20Firm%20Performance.pdf.txt |
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Uribe Bohorquez, Maria Victoria0645f0b7b7d4e7c762f7a85cff3ab58dMartínez Ferrero, Jennifer135e8acd1605a17a51f27bf061c49b3dGarcía Sanchez, Isabel Mariac7aa4783aa38c1cc318016e740c93ea13002018-11-16T20:18:20Z2018-11-16T20:18:20Z2018-03-0701482963http://hdl.handle.net/11323/1145https://doi.org/10.1016/j.jbusres.2018.03.005Corporación Universidad de la CostaREDICUC - Repositorio CUChttps://repositorio.cuc.edu.co/This study proposes a new research approach to examine the relationship between board independence and corporate performance, measured by technical efficiency. Moreover, this paper examines the moderating role that institutional factors exert on this relationship through the legal system—the content of law and its enforcement. The research questions are examined using an international sample of 2185 firms from 2006 to 2015, applying truncated regression models for panel data and employing data envelopment analysis to examine efficiency as a measure of performance. This paper supports that board independence increases the firm's technical efficiency. Even more, greater legal and judicial protection exerts a positive moderating effect on the previous relationship by protecting private benefits for insiders, among other aspects. Thus, the positive impact of independent directors on efficiency is greater when firms operate in countries with a greater extent of law and enforcement. 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