Does Independence of Board Committees Enhance Corporate Performance? The Case of Russia

被引：0
|
作者：
Zavertiaeva, Marina [1 ,2 ]
Shenkman, Evgeniya [1 ]
Kazarina, Ekaterina [1 ]
机构：
[1] HSE Univ, Int Lab Intangible Driven Econ, Perm, Russia
[2] HSE Univ, Int Lab Intangible Driven Econ, 37 Gagarina blvd,room 205, Perm 614000, Russia
来源：
EMERGING MARKETS FINANCE AND TRADE | 2024年 / 60卷 / 06期
关键词：
Board of directors; corporate governance; board committee; independent directors; emerging markets; Russia; G32; FIRM PERFORMANCE; AGENCY PROBLEMS; DIRECTORS; GOVERNANCE; IMPACT; DETERMINANTS; MEMBERSHIP; DIVERSITY; COMPANIES; GENDER;
D O I：
10.1080/1540496X.2023.2278649
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This article analyzes the service of independent directors on audit, compensation, nomination, and strategy committees as a driver of book- and market-based performance using a sample of 77 Russian listed non-financial firms during the period 2009-2019. We address endogeneity using the Heckman correction procedure and instrumental variables. We find that committee independence not only positively affects firm performance but also moderates the relationship between committee structure and firm outcomes. Thus, the positive impact of government experience and female ownership on firm performance may be enhanced by the independence of certain committees.
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页码：1316 / 1332
页数：17
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