Composition, Structure of Board of Directors and Performance: The Case of American Firms (Composition, Structure du Conseil D'Administration et Performance des Entreprises: Application au Contexte Americain)

23 Pages Posted: 8 Aug 2008 Last revised: 10 Aug 2008

See all articles by Moez Elgaied

Moez Elgaied

University of Tunis - Faculty of Economic Sciences and Management (ESSEC)

Houssem Rachdi

Institut des Hautes Etudes Commerciales (IHEC)

Date Written: August 6, 2008

Abstract

The aim of this paper is to study the relationship between the characteristics of board of directors and firm performance in a sample of 100 american firms, over the period 2001-2003. We particularly focus on board independence and CEO duality. Our results indicate a positive impact of board independence on the firm performance. We also find a negative relationship between CEO duality and performance. Finally we can indicate that Results of our empirical test fail to support stewardship theory and provide support for agency theory.

Note: Downloadable document is in French.

Keywords: board of directors, leadership structure, performance, agency theory, stewardship theory

JEL Classification: G32, G34, K22

Suggested Citation

Elgaied, Moez and Rachdi, Houssem, Composition, Structure of Board of Directors and Performance: The Case of American Firms (Composition, Structure du Conseil D'Administration et Performance des Entreprises: Application au Contexte Americain) (August 6, 2008). Available at SSRN: https://ssrn.com/abstract=1209442 or http://dx.doi.org/10.2139/ssrn.1209442

Moez Elgaied

University of Tunis - Faculty of Economic Sciences and Management (ESSEC) ( email )

B P 477
Le Bardo 2000
Le Bardo, TN Tunis 2000
Tunisia

Houssem Rachdi (Contact Author)

Institut des Hautes Etudes Commerciales (IHEC) ( email )

Carthage Presidence
Carthage, Tunis 2016
Tunisia

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