Board competence and the top management team's external ties for performance

Yoo, Jae Wook; Kim, Kwangsoo

doi:10.1017/s1833367200000924

Cited by 6 publications

(2 citation statements)

References 99 publications

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“…There are two aspects which must be considered when attempting to define performance; its time frame and its reference point. It is possible to differentiate between past and future performance and past superior performance does not guarantee that it will remain superior in the future (Yoo & Kim, 2012). Firm performance is divided into constructs of operational and organizational performance, which was identified as a typical way of measuring firm performance in past studies on supply chain management fit (Bair & Palpacuer, 2015).…”

Section: Firm Performance Of Kenya's Tea Subsector Industrymentioning

confidence: 99%

Effect of Logistics Management Practice on Firm Performance of Kenya’s Tea Subsector Industry

Matuga¹,

Simba²,

Kising’U³

2020

theijbm

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IntroductionLogistics management is that part of supply chain management that plans, implements, and controls the efficient, effective forward and reverse flows and storage of goods, services and related information between the point of origin and the point of consumption in order to meet customers' requirements. Logistics management activities typically include inbound and outbound transportation management, fleet management, warehousing, materials handling, order fulfillment, logistics network design, inventory management, supply/demand planning, and management of third-party logistics services providers (David, 2011). Tilokavichaian and Sophatsathit, (2011) assert that effective logistics management provides the right product in the right place at the right time hence the reason why it has received much attention over the past decade from practitioners and governments as it improves overall firm performance.Supply chain logistics is that part of a firm's resources including all assets, competencies, organizational processes, firm attributes, information, knowledge, etc. Which allow the firm to conceive and implement strategies that improve efficiency and effectiveness (Barney, 1991). Logistics management has been widely studied and measurement scales have been developed to link logistics management with competitive advantage and superior firm performance (Zhao, 2001). These studies found that logistics activities affect performance with regards to revenue enhancement as well as cost

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Section: Firm Performance Of Kenya's Tea Subsector Industrymentioning

confidence: 99%

Effect of Logistics Management Practice on Firm Performance of Kenya’s Tea Subsector Industry

Matuga¹,

Simba²,

Kising’U³

2020

theijbm

View full text Add to dashboard Cite

show abstract

“…Despite the notion within governance research that directors can leverage relevant experience to advance firms’ strategic engagements (e.g., Hillman, Cannella, & Paetzold, 2000), extant empirical works include relatively little systematic investigation into the relation between board experience and associated strategic performance. Likely due to laborious and intensive data collection requirements, prior resource-dependence theory studies on the assessment of director experience are based upon indirect indicators, such as board size (Coles, Daniel, & Naveen, 2008), board interlocks (Kor & Sundaramurthy, 2009), outside director ratio (Chen, 2011; Yoo & Kim, 2012), and diversity of directors’ functional background (Carpenter & Westphal, 2001). Such indirect assessments, however, cannot adequately assess the value of experiential capital that directors can provide to the strategies contemplated by executives, and thus hinders the testing of the relevant theoretical argument and learning of its practical implications.…”

Section: Introductionmentioning

confidence: 99%

The value of outside director experience to firm strategies: Evidence from joint ventures

Lai

Chen

2014

Journal of Management & Organization

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This study investigates the effect of outside director experience on the performance of a firm's joint venture (JV) engagements, a type of strategic move where the influence of board remains under-investigated despite directors’ active participation in the decision-making process. By examining the direct linkage between director experience and strategic performance, our research presents the first direct evidence of the value outside director experience has for a firm's strategic engagements; this has previously been exclusively assessed by indirect indicators. We address this important issue in the following three ways. First, we explore what type of director experience contributes most to JV outcomes. Second, we investigate what circumstantial factors significantly influence the value of director experience. Lastly, we analyze whether incentive mechanisms moderate the relationship between director experience and firm performance. The results confirm the value of director experience gained from JV engagements but not from relevant industries. In addition, executive experience and the industry affiliation of the JV significantly moderate the value of director experience. Finally, experienced directors with large shareholdings outperform those with experience but limited stakes in the firms’ equity, justifying the necessity to motivate directors’ governance efforts despite their existing fiduciary obligation to shareholders. Our study contributes to agency theory by indicating that director experience holds a significant influence on a firm's strategic performance, an issue which has long been neglected in agency-based governance research. It also contributes to resource-dependence theory by providing a direct measurement of directors’ experiential assets, which have so far been exclusively assessed by indirect indicators. Finally, findings from this study can elucidate the long-standing question of how a firm can realize the purported benefits JVs provide by introducing a vital yet rarely explored factor: board experience.

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Do Chinese corporations take their governance practices abroad? Evidence from Chinese mining subsidiaries in Australia

Huang

Staples

2017

Thunderbird Intl Bus Rev

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Directors of firms are theorized to fulfil control, service and resource dependence roles. However, the ways in which directors’ of Chinese MNCs govern their foreign subsidiaries, and perform these roles remains unclear. Building on the institutional logics perspective, this study explores the roles enacted by the boards of directors eight Chinese‐controlled companies in Australia to gain an appreciation of their governance practices. In depth semi‐structured interviews with insider and independent directors, consultants and market analysts were undertaken. A content analysis of company annual reports and web sites complimented primary sources of data on board functions. Findings reveal that control is the most dominant role played by these boards, rather than service or resource dependence. It also appears that the dominant logics of Chinese institutions influence the corporate governance of Chinese MNCs as they internationalize. These findings extend our understanding of corporate governance practices in China and abroad.

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Board competence and the top management team's external ties for performance

Cited by 6 publications

References 99 publications

Effect of Logistics Management Practice on Firm Performance of Kenya’s Tea Subsector Industry

Effect of Logistics Management Practice on Firm Performance of Kenya’s Tea Subsector Industry

The value of outside director experience to firm strategies: Evidence from joint ventures

Do Chinese corporations take their governance practices abroad? Evidence from Chinese mining subsidiaries in Australia

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