Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Entire DC Network
Reply To “Response: Board Composition And Firm Performance: Evidence From Bangladesh - A Sceptical View”, Afzalur Rashid, Anura De Zoysa, Sudhir Lodh, Kathy Rudkin
Reply To “Response: Board Composition And Firm Performance: Evidence From Bangladesh - A Sceptical View”, Afzalur Rashid, Anura De Zoysa, Sudhir Lodh, Kathy Rudkin
Australasian Accounting, Business and Finance Journal
This paper replies to Chowdhury’s (2010) response to the paper "Board Composition and Firm Performance: Evidence from Bangladesh" (2010). It challenges the strength of the criticisms, arguing that the factors discussed in Chowdhury (2010) do not necessarily impair the outcome of the research. The authors elucidate issues raised, and in so doing, reproduce the results incorporating the commentator’s suggestions.
Does Board Independence Matter? Evidence From New Zealand, Hardjo Koerniadi, Alireza Tourani-Rad
Does Board Independence Matter? Evidence From New Zealand, Hardjo Koerniadi, Alireza Tourani-Rad
Australasian Accounting, Business and Finance Journal
This paper examines the effects of the presence of independent directors on firm value using both market-based performance measures (Tobin’s Q ratio and EVA) and accounting-based ratios (ROA and ROE). We find that, instead of adding value, independent directors in New Zealand negatively affect firm value. We also find that, consistent with stewardship theory, independent directors have a positive effect on firm value only when they are in the minority. These findings are important given the increasing trend toward independence in corporate boards around the globe and suggest that board independence may not generally be suitable for countries where managers …