AN EXPLORATION OF BOARDS OF DIRECTORS’ QUALITY: THE DEVELOPMENT OF AN INDEX FOR DIRECTORS ATTRIBUTES AND THE RELATION WITH FIRM VALUE AND PERFORMANCE

Corporate Board: Role, Duties & Composition

José Elias Feres de Almeida¹ 

关键词: Board of Directors’ Quality;    Corporate Governance;    Firm Value;    Directors Qualitative Attributes;   

DOI  :  10.22495/cbv7i2art4

学科分类：社会科学、人文和艺术（综合）

来源: Virtus Interpress

【 摘 要 】

In an environment with poor quality of Corporate Governance Mechanisms, the quality of directors’ attributes might exert an important role to improve firm’s value and performance. I developed an index to explore the quality of Board of Directors based on Brazilian and international corporate governance codes to measure directors qualitative attributes. The sample consist in 24 Brazilian firms that traded at NYSE in the period over 1999-2006. The results show us that board of directors with high types of attributes can improve value measured individually and by the quality index. The main results indicate that firm value improved with high types of professionals, accountants seated in boards, directors with high level of education and that participated in executive training.

【 授权许可】

CC BY-NC