Impact of board size and board diversity on firm value: Australian evidence

Nguyen, Hoa and Faff, Robert 2006, Impact of board size and board diversity on firm value: Australian evidence, Corporate ownership & control, vol. 4, no. 2, Winter, pp. 24-32.

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Title Impact of board size and board diversity on firm value: Australian evidence
Author(s) Nguyen, Hoa
Faff, Robert
Journal name Corporate ownership & control
Volume number 4
Issue number 2
Season Winter
Start page 24
End page 32
Publisher Virtus Interpress
Place of publication Sumy, Ukraine
Publication date 2006
ISSN 1727-9232
1810-3057
Keyword(s) corporate governance
board of directors
shareholders
Australia
Summary The aim of this paper is to provide a preliminary analysis of the relationship between firm market value and the size and gender diversity of a board of directors for a sample of publicly listed Australian firms. Our results show that smaller boards appear to be more effective in representing the shareholders as smaller boards are associated with higher firm value. As board size increases firm value declines, however at a decreasing rate suggesting that the relationship between board size and firm value is not strictly linear. Our findings further indicate that gender diversity promotes shareholders' value as the presence of women directors is associated with higher firm value.
Language eng
Field of Research 150201 Finance
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2006, Virtus Interpress
Persistent URL http://hdl.handle.net/10536/DRO/DU:30003533

Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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