Board Independence, Firm Performance and Ownership Concentration: Evidence from Chile

By F. Lefort, F. Urzúa. 2008

371 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/680c4f356b62f566193629f2b032d07bff9b38a5

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Citations in the corpus

Does Having Women on Boards Create Value? The Impact of Societal Perceptions and Corporate Governance in Emerging Markets (2014, positive): “Firms nominate directors that fulfill the legal definition of independence but are close to the management and act in the interest of the controlling shareholders (Lefort and Urzúa, 2008).”
Ownership structure, board of directors and firm performance: evidence from Taiwan (2019, methodology): “In contrast, however, some studies find no significant explanatory power of board independence on firm performance (Dahya et al., 2016; Fosberg, 1989; Hermalin and Weisbach, 1991; Klein, 1998; Lefort and Urzúa, 2008; Mehran, 1995; Prevost et al., 2002; Ramdani and van Witteloostuijn, 2010), and yet ”
Does the presence of independent and female directors impact firm performance? A multi-country study of board diversity (2016, background): “…as a proxy for firm performance (e.g., Agrawal and Knoeber 1996; Amman et al. 2011; Anderson and Reeb 2003; Barnhart and Rosenstein 1988; Carter et al. 2003; Combs et al. 2005; Florackis et al. 2009; Ikäheimo et al. 2004; Lefort and Urzúa 2008; Maury 2006; Kim and Lim 2010, among others).”
Corporate Governance and Tobin’s Q as a Measure of Organizational Performance (2018, neutral): “…argued that concentration of ownership can distort simple one-way causal relations between variables—e.g. Board structure—i.e. how large or small the Board would be and how independent it would be, and its impact on performance (Bohdanowicz, 2015; Manzaneque et al., 2016; Lefort and Urzua, 2008).”
Committee Independence and Financial Institution Performance During the 2007–08 Credit Crunch: Evidence from a Multi‐Country Study (2011, background): “Mace (1971) suggests that directors serve as a source of advice, counsel, or discipline, and act in crisis situations.”
Board of Directors, Audit Committee Characteristics and the Performance of Saudi Arabia Listed Companies (2012, background): “For example, Krivogorsky (2006), Lefort and Urzúa (2008) and Limpaphayom and Connelly (2006) also found a positive relationship between board composition (the proportion of independent directors on the board) and firm performance.”