engleski

Inside the Black Box: Relationship between Supervisory Board Efficiency and Firm Performance

The board is an important internal mechanism of corporate governance. Board efficiency and its link to firm performance has been the focus of research in the Anglo-American academic community. Thus there is clearly a dearth of research set in the closed system of corporate governance. In this study we have developed a direct measure of board efficiency. The research results show that in the closed systems of corporate governance, ownership concentration is an important mechanism. In firms with high levels of external ownership concentration the degree of Supervisory Board efficiency is below average.

Supervisory board, firm performance, corporate governance, index of supervisory board efficiency

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