Board’s human capital resource and internationalization of emerging market firms: Toward an integrated agency–resource dependence perspective

Purkayastha, Anish; Karna, Amit; Sharma, Sunil; Bhadra, Dhiman

doi:10.1016/j.jbusres.2021.06.064

Cited by 19 publications

(32 citation statements)

References 118 publications

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“…Cunha et al proposed in the study of the economic development of Qinghai Province in western China, starting from the necessity of developing the national cultural industry, how to use the cultural industry to rapidly develop the local economy and alleviate ethnic conflicts in the areas with diverse ethnic groups and a lack of natural resources was analyzed [ 4 ]. Purkayastha et al put forward how to use the principle of multiethnic economic symbiosis to achieve sustainable and coordinated economic development in multiethnic areas under the new normal in the issue of the development of the Tibet-Yi Corridor [ 5 ]. Ksaa pointed out that to build an external driving force mechanism for the independent economic development of ethnic autonomous regions, FDI (foreign trade, foreign direct investment) should be actively introduced and effectively utilized to promote stable economic growth [ 6 ].…”

Section: Literature Reviewmentioning

confidence: 99%

Analysis of the Influence of Human Resources on the Economic Development of Minority Areas Based on Data Mining

Guo

Liu

Zheng

2022

Computational Intelligence and Neuroscience

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In order to break the bottleneck of the human capital stock restricting local economic growth in the typical western regions with backward national economic development, a research on the analysis of the impact of human resources on the economic development of ethnic regions based on data mining is proposed. On the basis of systematically reviewing the current situation and the theoretical basis of the relationship between human capital and economic growth, the method of combining normative research and empirical research is adopted, and the theories of macroeconomics, development economics, and regional economics are synthesized. In the research, the human capital and economic development in a certain western region are analyzed by establishing an econometric model. The results show that the average value of each year is taken as the inspection index, and the contribution rate is 0.0012, which shows that the contribution of human capital stock in economic growth is very small, indicating that physical capital stock is still the main driving force for local economic development. It is concluded that the research provides some relevant recommendations for human capital development to achieve sustainable local economic development.

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Section: Literature Reviewmentioning

confidence: 99%

Analysis of the Influence of Human Resources on the Economic Development of Minority Areas Based on Data Mining

Guo

Liu

Zheng

2022

Computational Intelligence and Neuroscience

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“…Despite the agency theory and resource dependence theory suggesting that – through different mechanisms – BI positively influences INT (Chen et al , 2016; Purkayastha et al , 2021), empirical evidence on this relationship has been mixed and inconclusive. Based on this, the purpose of this study was twofold: first, to analyze and synthesize the existing empirical literature and, second, to develop new theoretical insights on the effect of BI on INT.…”

Section: Discussionmentioning

confidence: 99%

Board independence and firm internationalization: a meta-analysis

Spadafora

Addo

Kostova

et al. 2022

MBR

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Purpose Despite agency theory and resource dependence theory suggesting that – albeit through different mechanisms – board independence positively influences firm internationalization, empirical evidence on this relationship has been mixed and inconclusive. Based on this, the purpose of the present study is twofold: first, to analyze and synthesize the existing empirical literature and, second, to develop new theoretical insights on the effect of board independence on firm internationalization. Design/methodology/approach The authors used advanced meta-analytic techniques that allowed them, first, to synthesize the existing empirical literature on the board independence–firm internationalization relationship and, second, to examine the effect of several contingencies on such relationship. This study relies on data from 87 primary studies (published and unpublished) carried out in multiple academic fields in the period 1998–2021 and covering 49 countries. Findings The results confirm the established agency and resource-dependence arguments, suggesting that higher board independence is associated with greater firm internationalization. Moreover, the results show that the focal relationship is moderated by home-country formal and informal institutional factors, and in particular, the legal protection of minority shareholders and family business legitimacy. The authors do not find evidence that CEO duality and board size moderate the focal relationship or that board independence has a stronger effect on breadth than on depth of internationalization. Originality/value This study lies at the intersection of the literatures on corporate governance and firm internationalization and on comparative corporate governance of the multinational firm, shedding further light on the role played by institutional environments in determining the effectiveness of corporate governance mechanisms.

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“…This theory has encouraged the implementation of JAEE 13,2 numerous corporate governance principles and codes in some countries. These principles and codes' common traits suggest that an independent board is the core tactic for this conflict of interest between principals and agents (Fidanoski et al, 2014;Purkayastha et al, 2021). Thus, agency theory suggests that the board has independent or outside board members to supervise directors or management and guide the company towards shareholders' interest.…”

Section: Theoretical Background Of Corporate Governancementioning

confidence: 99%

“…RDT stated that the board is a vital link between the company and the external resources that a company needs to maximise its performance (Fidanoski et al, 2014). Theorists broadened the claim by stating that board members with diverse backgrounds, such as different skills, cultural backgrounds and gender, will play strategic resources to the company, resulting in enhanced performance (Purkayastha et al, 2021). Trade credit is an essential resource of working capital as receivables' level directly influences inventory and cash (Paul et al, 2018).…”

Section: Theoretical Background Of Corporate Governancementioning

confidence: 99%

“…However, board characteristic, such as board diversity, is one factor that essential in supporting the role of board in achieving the goals of company (Ujunwa, 2012). According to the resource dependence theory, companies can enhance their performance by having board diversity (Fidanoski et al, 2014;Purkayastha et al, 2021). While most studies in board diversity have only focused on the gender diversity issue, such expositions are unsatisfactory because many diversity factors could be brought into analysis, such as the educational and intellectual capital on board.…”

Section: Introductionmentioning

confidence: 99%

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Working capital management and board diversity towards firm performances in Indonesia's LQ45

Hatane

Winoto²,

Tarigan³

et al. 2022

JAEE

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PurposeThis study examines the effect of working capital management and board diversity on firm profitability and firm value for a sample of Indonesian firms listed in the LQ45 index. The interaction of board diversity components with working capital management adds a comprehensive discussion to enhancing working capital management efficiency.Design/methodology/approachThis study engages a panel multiple regression method. Data from a sample of LQ45 companies from 2010 to 2016 are analysed using a fixed and a common effect model. Board diversity is further analysed in interaction variables, whether it holds the moderating role in the relationship of working capital and firm performances. This study operates return on capital employed (ROCE) as the proxy of profitability performance and EVA-Spread for the firm's value performance. The simultaneous effect test is used for the robustness test.FindingsThe results indicate that working capital management and board diversity have no significant impact towards profitability. However, they significantly positively impact firm value, meaning that the market is attracted by effective working capital management and board diversity. However, the interaction variable analysis shows that gender diversity and education level diversity weaken the impact of working capital management towards firm value.Research limitations/implicationsThis study is not limited to one industry; therefore, future studies may focus on one industry and detect the pattern of working capital components in the particular industry. This study focuses on quantitative numbers to explain board diversity's interaction in working capital management to maximise shareholders' wealth. Future studies may consider a qualitative discussion to describe the quality of women's presence on the board, education level and educational background of board members.Originality/valueUnlike most studies in which authors relate working capital and board diversity to firm performances separately, this study combines both components and analyses whether board diversity can act as a moderator effect. As part of corporate governance, it is expected that board diversity can enhance working capital management efficiency.

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Board’s human capital resource and internationalization of emerging market firms: Toward an integrated agency–resource dependence perspective

Cited by 19 publications

References 118 publications

Analysis of the Influence of Human Resources on the Economic Development of Minority Areas Based on Data Mining

Analysis of the Influence of Human Resources on the Economic Development of Minority Areas Based on Data Mining

Board independence and firm internationalization: a meta-analysis

Working capital management and board diversity towards firm performances in Indonesia's LQ45

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