Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 3 of 3
Full-Text Articles in Business
Board Members' Education And Firm Performance: Evidence From A Developing Economy, Salim Darmadi
Board Members' Education And Firm Performance: Evidence From A Developing Economy, Salim Darmadi
Salim Darmadi
Empirical studies focusing on the influence of the educational backgrounds of CEO and board members on firm performance are scarce in the literature. This study makes a contribution by addressing such an issue in the context of Indonesia, a developing country that adopts a two-tier board system. Using annual reports to collect information on the educational qualification of board members, I employ a sample consisting of 160 firms listed on the Indonesia Stock Exchange (IDX). I use four measures of educational qualification in this study, namely postgraduate degrees, degrees obtained from prestigious domestic universities, degrees obtained from developed countries, and …
Do Women In Top Management Affect Firm Performance? Evidence From Indonesia, Salim Darmadi
Do Women In Top Management Affect Firm Performance? Evidence From Indonesia, Salim Darmadi
Salim Darmadi
This paper investigates the relationship between gender diversity on management boards and financial performance of Indonesian listed companies. We conduct cross-sectional regression analysis based on a sample comprising 92.4 percent of public firms listed on the Indonesia Stock Exchange (IDX). We find that the representation of female top executives is negatively related to both accounting and market performance, suggesting that female representation is not associated with improved level of performance. From correlation analysis, our results also reveal that smaller firms, which tend to be family-controlled, are more likely to have higher proportion of female members on management boards. This implies …
The Ethics Of Shareholder Value: Duty, Rights & Football, Donald Nordberg
The Ethics Of Shareholder Value: Duty, Rights & Football, Donald Nordberg
Donald Nordberg
How does a board of directors decide what is right? The contest over this question is frequently framed as a debate between shareholder value and stakeholder rights, between a utilitarian view of the ethics of corporate governance and a deontological one. This paper uses a case study with special circumstances that allow us to examine the conflict between shareholder value and other bases on which a board can act. In the autumn of 2010 the board of Liverpool Football Club sold the company to another investing group against the wishes of the owners. The analysis suggests the board saw more …