Boards’ Attributes and Company Performance: the Romanian Experience

Bordean, Ovidiu-Niculae; Borza, Anca

doi:10.14254/2071-789x.2017/10-2/5

Cited by 5 publications

(4 citation statements)

References 66 publications

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“…For these reasons, this study tested whether the environmentally sensitive industry status exhibits a moderating effect on waste information disclosure and financial performance. Moreover, several previous studies [ 62 , 63 , 64 , 65 , 66 , 67 ] have shown that the size and structure of the board of directors influence the financial performance of companies. So, another goal was to test whether the number of directors on the board exerts a moderating effect between waste management information disclosure and financial performance.…”

Section: Methodsmentioning

confidence: 99%

Tracking Waste Management Information Disclosure Behavior Connected to Financial Performance through Moderating Variables

Bogdan

Sabău-Popa

Boloș

et al. 2022

IJERPH

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The current challenges of a circular economy exert a high pressure on manufacturing companies that generate waste to track and implement policies to reduce them and eliminate the toxicity of residues. Hence, the purpose of this study is to analyze the waste management information disclosure linked to the financial performance of companies and test the moderating effect of internal and external variables. The average waste management information disclosure index shows a poor disclosure score for the analyzed period, however, the waste disclosure index after reaching a minimum threshold in 2019 recorded an encouraging increase at the end of 2021. Applying the fixed effects model, ordinary least squares, and two-stage least squares method, the results revealed a positive and statistically significant relationship between management information disclosure and the return on assets, while for the current ratio the connection has been invalidated. A statistically significant influence of the environmental-sensitive industry status, board size, and productivity on the moderating variables was found for the return on assets, while for current ratio, there was none. As for the alternative metrics of financial performance, the results showed that a higher degree of management information disclosure will increase the return on equity and earnings per share, while in the case of liquidity, the results are not conclusive.

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Section: Methodsmentioning

confidence: 99%

Tracking Waste Management Information Disclosure Behavior Connected to Financial Performance through Moderating Variables

Bogdan

Sabău-Popa

Boloș

et al. 2022

IJERPH

View full text Add to dashboard Cite

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“…e relationship between the size of the board of directors and the financial performance of companies is explained by the theory of resource dependence [91]. us, proponents of this theory argue that a larger number of board members will lead to a greater accumulation of resources [92]. However, opinions are divided and so we find that some support the idea that larger councils are more likely to impact performance indicators favorably [93][94][95][96][97] and argue that smaller boards are more efficient and enhance the performance of companies.…”

Section: Board Size Andmentioning

confidence: 99%

The Complexity of Interaction between Executive Board Gender Diversity and Financial Performance: A Panel Analysis Approach Based on Random Effects

2022

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This study examined the influence of the executive board of directors’ gender diversity on the financial performance of listed companies on the Bucharest Stock Exchange, for the period 2011 to 2019. The analysis of the composition and different characteristics of the board and the executive directors proved to be effective tools for corporate governance in countries with an emerging capital market. Therefore, a disclosure index on directors’ characteristics was used to moderate the interaction between gender diversity and financial performance, based on the theoretical framework provided by upper echelon theory. The study contributes to the enrichment of the literature both by using the composite indicator built by applying the multiway PCA method on panel data to express financial performance and by designing the ten EGLS panel models involving five financial indicators and two proxies for gender diversity. The results showed that there is a positive impact of the proportion of women on the executive board of directors on financial performance, measured through the composite index, ROA, ROE, and SOL. A statistically significant impact of gender diversity on financial performance was found only for SOL, in the case of the Blau index. Also, using the random-effects model to perform the panel data analysis, the results showed that a higher executive board size can be associated with better financial performance measured through the composite index, ROA, ROE, and EPS. Practical implications are significant for the board of executives’ composition, the complexity of the relationship with the board, and reshaping governance practices.

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“…Almost directors are from man members [1]. Most of prior study in emerging market find the number of women on board is still low such as in Indonesia [24], [25] and Malaysia [13].…”

Section: Gender Diversitymentioning

confidence: 99%

“…Researches on Board of Directors charactheristics and company performance have received much intention until now [1]. Board of Directors has a significant contribution in enhancing value of stakeholders.…”

Section: Introductionmentioning

confidence: 99%