Board Composition Research Articles

Can effective board drive environmental innovation? The moderating power of CSR committee

Purpose This study aims to investigate the impact of various board characteristics on environmental innovation (EI) among companies listed on the STOXX Europe 600. It also examines the moderating role of CSR committees on the board–EI nexus. Design/methodology/approach The sample consists of companies listed on the STOXX Europe 600 index over 12 years (2011–2022). This study uses the Refinitiv Eikon database to evaluate the extent of EI. Panel data regression analysis is used, with two-stage least squares and lagged models used as robustness tests to control for endogeneity. Findings The results indicate that board independence and gender diversity significantly increase EI, whereas CEO duality negatively impacts it. Other board attributes, such as board size, show no impact on EI. In addition, the presence of CSR committees moderates these relationships, enhancing the positive effects of gender diversity and board independence and mitigating the negative impact of CEO duality. Practical implications This study provides valuable insights for policymakers and corporate strategists aiming to advance environmental responsiveness through strategic board composition and establishing CSR committees. Emphasizing the importance of board independence, gender diversity and CSR committees, the findings suggest practical pathways for enhancing the adoption of EI by creating governance structures that support sustainable practices. Originality/value To the best of the authors’ knowledge, this is the first study to examine the moderating role of CSR committees on the associations between board characteristics and EI. This research addresses a crucial gap in the current literature, enriching the understanding of corporate governance and sustainability. It provides critical insights for developing policies and strategies that promote EI through effective board composition and the implementation of CSR committees.

The Impact of Executive Board Member Characteristics on Firm Innovation: The Roles of R&D and Organizational Tenure

Much of the current thinking on board composition suggests that the presence of executive directors as internal board members is detrimental to a firm’s innovation. Our intention in this research paper is to grant greater nuance to this relationship. Specifically, we examine whether factors that give an executive director greater knowledge regarding the firm’s innovative capabilities (involvement in R&D and their organizational tenure) act to influence firm-level innovation. Using a dataset of 300 firms from three R&D intensive industries spanning a 6-year period, we find that these two characteristics serve to offset the negative effects of executive directors on innovation. Our findings offer enhanced guidance to scholars and practitioners who are concerned about the presence of insiders on boards of directors.

The Big 4 audit dilemma: Board characteristics, audit quality, and sustainability disclosure in Malaysian companies

Our study investigates the relationship between firm profitability, board characteristics, and the quality of sustainability disclosures, while examining the moderating effects of financial leverage and external audit assurance. A key focus is the distinction between Big 4 and non-Big 4 audit firms. Using data from Malaysia’s top 100 publicly listed organizations from 2018 to 2020, we analyze sustainability reports based on the Global Reporting Initiative (GRI) standards. Unexpectedly, our results indicate a negative association between firm profitability and board characteristics, challenging traditional assumptions. We find that non-Big 4 audit firms significantly enhance sustainability disclosure quality, contradicting the widely held belief in the superiority of Big 4 firms. Our finding introduces the “Big 4 dilemma” in the Malaysian context and calls for a reassessment of audit firm selection practices. Our study offers new perspectives on the strategic role of board composition and audit firm selection in advancing sustainability disclosures, urging Malaysian organizations to evaluate audit firms on criteria beyond the global prestige of Big 4 firms to improve sustainability reporting.

Corporate Board Characteristics of Family-Managed Firms and it’s Impact on Firm Performance

Well-balanced and active corporate boards ensure effective corporate governance in family firms. Studies in the area of corporate governance across the globe made considerable effort to study the composition of corporate boards and their effectiveness. The present study is an effort to evaluate the impact of board characteristics on the performance of selected Indian family-managed firms. The paper encompasses how various board parameters such as board size, board independence, the duality of the chairman, gender diversity, and inclusion of foreign directors in the board impact a firm's market and accounting performance measures. The data is collected from the CMIE PROWESS Database, consisting of 173 family-managed firms belonging to 11 macro-industrial sectors selected. The panel data used for the study consist of 2076 observations for 12 years, from 2010-11 to 2021-22. The study uses regression analysis to evaluate the impact of board characteristics on performance measure indicators Tobin’s Q and ROA of the firms.

What drives corporate water disclosure? The role of board composition in Brazil and India

What drives corporate water disclosure? The role of board composition in Brazil and India

Board Characteristics and Dividend Pay-Out Policy in Nigerian Consumer Good Firms

This study interrogates the interplay between board attributes and dividend payout policy amongst listed in Nigerian manufacturing firms. The research focuses on various board attributes, including board size, board independence, gender diversity, and board ownership, to determine their influence on the dividend decisions of firms. Using panel data from a sample of Nigerian manufacturing companies listed on the Nigerian Stock Exchange (NSE) from 2013 to 2022, the study employs multiple regression analysis to evaluate the effect of these variables on dividend per share. The results indicate that board independence positively influence dividend payouts, while board diversity and board ownership have negative non-significant effect on the criterion variable using t-statistics. These findings suggest that a well-structured board can enhance firm decision-making, leading to higher shareholder returns. The study recommends that policymakers and firm managers should consider the composition and governance of boards when devising strategies related to dividend payouts to optimize corporate performance and shareholder value.

MICROCONTROLLER MANAGEMENT SYSTEM OF MANIPULATOR MANAGE

Currently, most manipulators are driven by a DC or AC motor. The encoder is used as a speed positioning and feedback device in the manipulator control system.The spectrum of available solutions in the field of microcontroller control systems of manipulators is considered in the article. The circuit of the controller board has been developed to control the transfer of the manipulator manga.The analysis of the element base included in the composition of the control board has been performed. The manipulators used for the automation of biochemical analysis allow to improve the quality of the conducted analysis and the repeatability of the robot's work. Also, due to continuous performance of the work, it creates conditions to increase productivity as a whole. Keywords: manipulation, robot, microcontroller, manipulator, transmission.

Management Research on Online Recruitment CompaniesBased on Case Analysis of SEEK

This paper explores the study of management research on online recruitment companies, especially to provide a deeper understanding of the management practices of SEEK, Australias largest online recruitment company, through a case analysis focusing on challenges related to corporate governance, cost of capital, and company structure. With the development of the internet and information technology, online recruitment platforms offer efficient and convenient hiring methods for businesses and job seekers, but they also bring unique management challenges. By analysing SEEKs corporate governance structure, including its board composition and compensation policies, this study reveals key issues online recruitment companies face in governance and capital management. Furthermore, the paper examines SEEKs capital structure and its impact on its operations and growth. Through this case sing of the complexities of managing online recruitment platforms. It highlights both the opportunities created by technological advancements and the governance and financial challenges they face.

Unveiling dynamics: Financial performance determinants in the Ghanaian insurance industry

This pioneering study unravels the financial performance dynamics of Ghanaian insurance firms, leveraging proprietary data from the National Insurance Company (NIC), Ghana. Utilizing a system GMM technique on a comprehensive panel dataset of 40 firms from 2012 to 2017, it uncovers cost efficiency, claims ratio, retention ratio, audit fees, firm age and size, and board composition as crucial performance drivers. In what concerns the implications for the emerging economies, we show that the inclusion of the variable “risk retention and claims” helps insurance companies to better ascertain the right level of risks associated with the businesses they underwrite, so that the claims ratio will be minimized, and the appropriate premium ensured. Moreover, for the insurance sector in the frontier markets, with characteristics like Ghana´s economy, the study advocates for strategic cost control measures and emphasizes the need for proactive regulatory approaches aiming to enhance policy actions and to provide supplementary funds for firms demonstrating growth potential. These empirical evidence-based insights help design a roadmap for developing the insurance sector in the economies belonging to frontier and emerging markets.

Corporate governance and capital market development in the GCC: a comparative literature review

PurposeThis review provides a detailed analysis of corporate governance practices across Gulf Cooperation Council (GCC) countries, focusing on board characteristics, executive remuneration, capital markets and the integration of ethical and sustainable practices. It evaluates how these governance frameworks influence market performance, investor confidence and corporate sustainability within the region.Design/methodology/approachThe study synthesizes findings from 15 recent research studies, examining corporate governance mechanisms, board composition, executive compensation policies and their impact on market capitalization. The data were collected from major academic databases, including Google Scholar, Springer, Web of Science and Scopus.FindingsThe analysis exhibits both similarities and differences in corporate governance frameworks across GCC countries. Important findings include a universal mandate for the separation of chief executive officer (CEO) and chairman roles, varied board composition requirements and differing executive remuneration and transparency policies. Saudi Arabia and the United Arab Emirates (UAE) lead in market capitalization, reflecting advanced governance practices, though disparities exist among GCC countries. The review also notes the increasing alignment of corporate governance with corporate social responsibility (CSR) principles, especially in sustainability reporting and ethical practices, highlighting a growing commitment to long-term value creation.Originality/valueThis review uniquely synthesizes recent research on GCC corporate governance, offering insights on board structures, executive pay and market dynamics with a focus on ethical and sustainable practices. It provides valuable perspectives for stakeholders, policymakers and academics interested in enhancing governance frameworks in the region while contributing to the global discourse on aligning corporate governance with sustainability standards.

Gender Distribution of Editorial Board Members in Palliative Care Journals: Assessment of Gender Parity.

Objective: Although the representation of women in palliative care has improved in recent years, gender inequality still exists in editorial leadership. This study aimed to characterize gender distribution in leadership positions on the editorial boards of palliative care journals. Methods: This cross-sectional study analyzed the gender composition of editorial boards for palliative care journals indexed in the Web of Science (WoS) and the factors that affect this composition. Information on the gender of editorial board members was obtained from each journal's website. Results: A total of 1388 editorial board members from 28 palliative care journals were included in the analysis. The data analysis showed that 540 (38.9%) of the editorial board members were women, while 848 (61.1%) were men. Of the 31 editors-in-chief, only 11 (35.5%) were women. Editorial boards of journals classified as social work (OR, 5.92, 95% CI, 2.29-15.30, p < 0.001) and nursing (OR, 4.20, 95% CI, 1.73-10.17, p = 0.001) in WoS coverage were independently associated with gender diversity. There were differences in gender representation between the editorial boards of palliative care journals published in New Zealand (OR, 0.49, 95% CI, 0.29-0.80, p = 0.005), Japan (OR, 0.17, 95% CI, 0.08-0.32, p < 0.001), and those categorized under oncology in WoS coverage (OR, 0.64, 95% CI, 0.05-0.89, p = 0.009). Conclusions: Our findings demonstrated that women are underrepresented among editorial board members of palliative care journals. Additional efforts are required to broaden diversity policies in palliative care.

Corporate Governance, Industry Regulation and Efficiency of Retirement Benefit Schemes in Kenya

The significance of retirement benefits arrangements has emerged in the wake of the waning traditional methods of caring for the elderly and the expected surge in the aging population, especially in developing economies. Despite the key role that retirement benefit arrangements play, there has been limited research on how corporate governance and industry regulation influence their efficiency. This study sets out to investigate the relationships among corporate governance, industry regulation and efficiency of retirement benefit schemes in Kenya. The study is grounded in several theoretical frameworks, including agency theory, stewardship theory, and financial distress theory. The study employs a quantitative research design, utilizing panel regression analysis to test the hypotheses. Data was collected from 896 observations across 128 retirement benefit schemes in Kenya, covering a seven-year period from 2015 to 2021. The results reveal that employee representatives on the board significantly and positively influence the efficiency of these schemes. Conversely, independent board members are found to have a negative effect on efficiency, suggesting potential challenges such as conflicts or slower decision-making processes. The study concludes that while corporate governance and industry regulation play significant roles in influencing the efficiency of retirement benefit schemes, their effects are interdependent and context specific. This study contributes to agency theory by providing empirical evidence that highlights the complexities of board composition in aligning the interests of managers and stakeholders within retirement benefit value-chain. The study reflects the importance of stakeholder-inclusive governance, particularly employee representation, as a means of aligning interests and enhancing organizational efficiency.

Shining light on the shadows: The role of corruption control in the relationship between board composition and SDG disclosure

AbstractThis paper investigates how corruption control moderates the relationship between board composition and Sustainable Development Goals (SDG) disclosure. We analyze a sample of 269 companies from Mediterranean capitalism countries (Portugal, Greece, Italy, Spain, Malta, and Cyprus) combining a symmetric method (panel data analysis) and an asymmetric approach (fuzzy‐set qualitative comparative analysis). Our findings show that larger boards enhance SDG disclosure and female presence negatively impacts SDG disclosure. Corruption control is a driver of SDG disclosure, and the effect of board size on SDG disclosure is greater when companies are operating in countries with low rates of corruption. This the first paper that investigates the relationship between board composition and SDG disclosure, highlighting the moderating effect of controlling corruption at the country level. Managers should be aware that some board characteristics drive greater SDG disclosure. Additionally, governments can support SDG disclosure by combating corrupt practices in their countries, and by creating support mechanisms for companies to incorporate SDGs into business strategies.

A methodology to map chains of general practices in the Netherlands

Abstract Background Commercial entities are increasingly interested in acquiring Dutch general practices (GPs). They see profitable opportunities in upscaling by forming chains. Chain organizations integrate business processes of GPs within one organizational unit. The governance structure of these chains can be complex, leading to opacity and difficulties to see conflicts of interest and market power. To investigate how this development may have an impact on quality and accessibility of care, it is first needed to establish the ways in which these chains are formed. By mapping the chain structure in a data-driven way, impact monitoring becomes possible. For the Netherlands we investigated how chain structures of GPs can be empirically identified. Methods Background data of approximately 4,800 Dutch GPs from the Nivel Healthcare Professional Registries was linked with data from the Chamber of Commerce’s Trade Register. This enabled the determination of the legal form, business location, ownership, and director identification for all GPs. By this data-driven manner, the variation in organizational structures of all Dutch GPs was mapped and analyzed. Results Four different chain variants of Dutch GP chains were identified based on three types of relations between the chain organization and their GPs: ownership, location and the composition of the board of directors. Based on ownership, two ‘top-down’ chain variants were identified. Two ‘bottom-up’ chain variants were found based on location and board composition: (1) a chain organization acquires a seat on the board of the GP, and (2) the GP and the chain organization share the same business address. Combining these variants provides a new typology of GP chains in the Netherlands. Conclusions Our methodology enables to empirically map chain formation in primary care. By developing a new typology in a systematic way, a foundation is created to monitor organizational developments and their impact on quality and accessibility of care. Key messages • A typology of Dutch GP chains was developed based on three relations: the ownership, composition of the board and the establishment location of the chain organization and its practices. • Our methodology was put into practice to map different chain structures of GPs in the Netherlands, but it is not limited to primary care and can also be applied in other sectors and countries.

Boardroom Diversity and Whistleblowing Disclosure: Empirical Evidence from Malaysia’s Top 100 Publicly Listed Companies

The disclosure of whistleblowing policies is a critical component of effective corporate governance. High standards of whistleblowing policy disclosure signal a company’s commitment to safeguarding stakeholder interests. This research aims to analyze the relationship between board composition and whistleblowing policy disclosure in the top 100 Malaysian publicly listed companies. Specifically, the study investigates whether board independence, board size, the frequency of board meetings, and board gender diversity affect the level of whistleblowing policy disclosure. The relationships between these board characteristics and whistleblowing policy disclosure are analyzed using an Ordinary Least Squares (OLS) regression model. The findings reveal that board independence and gender diversity are significantly and positively associated with whistleblowing policy disclosure. However, board size and frequency of the board meetings do not exhibit significant relationships with whistleblowing policy disclosure. This study has contributed to the existing literature by extending the principal-principal conflict theory to the context of whistleblowing policy disclosure, offering new insights into the governance mechanisms that drive transparency in corporate reporting.

Effect of Corporate Governance on Increasing Foreign Direct Investment in Saudi Arabia

This research paper aimed to investigate the relationship between corporate governance and foreign direct investment (FDI) in the Kingdom of Saudi Arabia. It examined various aspects of corporate governance such as executive compensation, financial reporting, board composition and the shareholder rights. It analyzed the trends, patterns and factors that may affect the decisions of foreign direct investors. The findings revealed that the Kingdom of Saudi Arabia has conducted a great progress in the field of utilizing corporate governance on increasing the foreign direct investments; however, there is a need for improving the quality. The study also provided some recommendations to create more stable environment to support FDI adequately as well as utilizing adequate corporate governance practices such as strengthening the independent board oversight and enhancing the rights of shareholders are among these factors. Improving the executive compensation practices and adopting international financial reporting can increase the number of investments as well as there will be coherence between the economic regulations in the Kingdom and those of other countries. Increasing the corporate social responsibility as well as strengthening the regulatory framework to facilitate applying corporate governance measures as well as enhancing foreign direct investments are recommended as well. Fostering the culture of good governance and providing facilities to attract foreign investments are suggested along with asserting the importance of enhancing the international cooperations.

New Eco-Friendly Thermal Insulation and Sound Absorption Composite Materials Derived from Waste Black Tea Bags and Date Palm Tree Surface Fibers.

A tremendous amount of waste black tea bags (BTBs) and date palm surface fibers (DPSFs), at the end of their life cycle, end up in landfills, leading to increased pollution and an increase in the negative impact on the environment. Therefore, this study aims to utilize these normally wasted materials efficiently by developing new composite materials for thermal insulation and sound absorption. Five insulation composite boards were developed, two were bound (BTB or DPSF with polyvinyl Acetate resin (PVA)) and three were hybrids (BTB, DPSF, and resin). In addition, the loose raw waste materials (BTB and DPSF) were tested separately with no binder. Thermal conductivity and sound absorption coefficients were determined for all boards. Thermal stability analysis was reported for the components of the tea bag (string, label, and bag) and one of the composite hybrid boards. Mechanical properties of the boards such as flexural strain, flexural stress, and flexural elastic modulus were determined for the bound and hybrid composites. The results showed that the thermal conductivity coefficients for all the hybrid composite sample boards are less than 0.07 at the ambient temperature of 24 °C and they were enhanced as the BTB ratio was reduced in the hybrid composite boards. The noise reduction coefficient for bound and all hybrid composite samples is greater than 0.37. The composite samples are thermally stable up to 291 °C. Most composite samples have a high flexure modulus between 4.3 MPa and 10.5 MPa. The tea bag raw materials and the composite samples have a low moisture content below 2.25%. These output results seem promising and encouraging using such developed sample boards as eco-friendly thermal insulation and sound absorption and competing with the synthetic ones developed from petrochemicals in building insulation. Moreover, returning these waste materials to circulation and producing new eco-friendly composites can reduce the number of landfills, the level of environmental pollution, and the use of synthetic materials made from fossil resources.

Identification of position, size and dynamic heat power of chips embedded in a real electronic board

Temperature is a critical factor in the lifespan of electronic systems. Therefore, it is essential to control all thermal parameters. In certain applications, such as commercial off-the-shelf (COTS) components, manufacturers may not have precise knowledge of the composition of electronic boards. As a result, it is important for them to define the positions of heat-dissipating elements, and the power dissipated to better predict the final thermal behavior of the system. Some electronic boards today even have components integrated into their volume. Since components can now be located not only on the surface but also within the volume of electronic boards, manufacturers need to define volume-based methods for detecting these heat sources. In this article, we address the problem of detecting sources within a volume using surface temperature data. To achieve this goal, we develop a representative numerical model of the system that can be used for an inverse source identification procedure. In a first time, we present a numerical approach that demonstrates the feasibility of the identification procedure on a board containing several electronic chips. Secondly, the volume source identification method is applied to a real case, using surfaces temperatures measured by infrared cameras. The experimental results obtained are consistent and show that this technique is suitable for detecting volumetric sources within an electronic board.

Women’s Presence on Boards and Financial Performance: Evidence from Southeast Asia

The purpose of this article is to assess the impact of female board representation on financial performance in Southeast Asia. To compare the presence of women, three proxies are used: the percentage of women, the Blau Index, and the Shannon Index. The samples for five-year intervals (2017-2021) include 249 Southeast Asian enterprises and 1,245 observations. The Fixed Effect Model results show that, based on all three proxies, women's board participation leads to lower financial performance, which contradicts the Agency and Resource Dependence Theories. This document serves as a resource for regulators and stakeholders in developing effective and proper corporate governance, particularly in board compositions that need a proportion of women in Southeast Asia. The conclusions of this study may be impacted.

Performance of manufacturing and allied firms listed at the Nairobi Securities Exchange, Kenya: The role of corporate governance

The Kenyan government has implemented numerous reforms, including the inclusion of the manufacturing sector as one of the government's four major agendas for revitalizing the sector. Despite these reforms, statistics show that over the last ten years, manufacturing industries in Kenya listed on the Nairobi Securities Exchange have experienced stagnation and declining profits, slowing growth, and declining market share, necessitating the establishment and execution of effective corporate governance. Therefore, the current study investigated the effects of corporate governance on performance of manufacturing and allied firms listed at Nairobi Security Exchange, Kenya. The study specifically investigated the effects of board composition, board size, board independence and board diversity on performance of manufacturing and allied firms. Agency theory, RBV and stakeholder’s theory anchor the study. Descriptive research design was used. Stratified random sampling technique was used as a sampling technique. A self-administered semi-structured questionnaire was used to collect primary data from a population of four hundred and thirty-nine manufacturing and allied firms. Two hundred and nine corporate managers from these manufacturing companies were sampled. A pilot test of twenty-nine respondents was conducted. Collected data was coded, cleaned, and analyzed. Data analysis included the creation and interpretation of descriptive means, percentages, and standard deviations, which was presented in the form of tables, charts, and graphs. The results of regression analysis established that board composition, board size, board independence and board diversity significant influenced firm performance of manufacturing and Allied Firms listed at the Nairobi Securities Exchange, Kenya.