Number of directors and financial performance: A meta-analysis

• 成果类型: Review
• 署名作者: Dalton, DR; Daily, CM; Johnson, JL; Ellstrand, AE
• 署名单位: Indiana University System; IU Kelley School of Business; Indiana University Bloomington; University of Arkansas System; University of Arkansas Fayetteville; California State University System; California State University Long Beach
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• DOI: 10.5465/256988
• 发表日期: 1999
• 页码: 674-686
• 关键词: LARGE AMERICAN CORPORATIONS; board-of-directors; INTERLOCKING DIRECTORATES; ORGANIZATIONAL GROWTH; COMMITTEE MEMBERSHIP; LEADERSHIP STRUCTURE; Ownership structure; golden parachutes; Agency theory; ceo pay

摘要

Although a host of theory-driven rationales suggest a relationship between board of directors size and firm performance, the literature provides no consensus about: the direction of that relationship, A meta-analysis of 131 samples (N = 20,620) provided systematic evidence of nonzero, positive, true population estimates of board size-performance relationships.