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An analysis of the association between firms' investment opportunities, board composition and firm performance

journal contribution
posted on 2002-01-01, 00:00 authored by Marion Hutchinson
The purpose of this paper is to identify the variables that influence the board structure adopted by firms and the subsequent relationship to the firm's performance. The results of this study of 229 Australian firms show that firms' investment opportunities are strongly associated with a higher proportion of executive directors ("EDs") on the board. The results also show that the negative relationship between a firm's investment opportunity set ("IDS") and firm performance is weakened at higher levels of non-executive director board domination. These results have implications for policy setters and managers of firms with investment opportunities

History

Journal

Asia - Pacific journal of accounting and economics

Volume

9

Issue

1

Pagination

17 - 38

Publisher

City University of Hong Kong, Department of Economics & Finance

Location

Kowloon, Hong Kong

ISSN

1608-1625

Language

eng

Publication classification

C1 Refereed article in a scholarly journal

Copyright notice

2002, University of Hong Kong

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