Larger board size and decreasing firm value in small firms

被引：871

作者：

Eisenberg, T ^{[1
]}

Sundgren, S

Wells, MT

机构：

[1] Cornell Univ, Sch Law, Ithaca, NY 14853 USA

[2] Swedish Sch Econ & Business Adm, Vaasa, Finland

来源：

JOURNAL OF FINANCIAL ECONOMICS | 1998年 / 48卷 / 01期

关键词：

board of directors; corporate governance;

D O I：

10.1016/S0304-405X(98)00003-8

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Several studies hypothesize a relation between board size and financial performance. Empirical tests of the relation exist in only a few studies of large U.S. firms. We find a significant negative correlation between board size and profitability in a sample of small and midsize Finnish firms. Finding a board-size effect for a new and different class of firms affects the range of explanations for the board-size effect. (C) 1998 Elsevier Science S.A. All rights reserved.

引用

页码：35 / 54

页数：20

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