Who nominates the board? - Implications on board diversity and turnover

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dc.contributor Aalto-yliopisto fi
dc.contributor Aalto University en
dc.contributor.author Viskari, Milla
dc.date.accessioned 2014-08-06T08:38:17Z
dc.date.available 2014-08-06T08:38:17Z
dc.date.issued 2014
dc.identifier.uri https://aaltodoc.aalto.fi/handle/123456789/13660
dc.description.abstract This thesis assesses whether the type of nomination poses implications on board diversity in terms of age, gender, nationality and education, as well as turnover on a Finnish and Swedish data. The existing research on director selection and especially nomination committees is rather limited, and thus the research aims at contributing to the topic. The reviewed time period concerns 2008 to 2012, and altogether 55 Finnish and 55 Swedish public companies are included in the study, thus resulting in a sample size of 550 for diversity and 440 for turnover analyses. In 48 of these firms the board is nominated by the board or its subcommittee, and in the remaining 62 by a shareholders' nomination committee. The selected firms represent a variety of industries and sizes. The diversity and turnover data was mainly collected from the companies' annual reports, and financial figures from the Orbis database. Statistical methods were employed to assess the relationships between the variables. The results suggest that the nomination method has a significant effect on total board diversity, where shareholder nominated boards are more likely to possess higher degrees of diversity. Likewise, evidence was found that having a shareholder nominated board contributed to a higher likelihood of diversification regarding age, gender and nationality, but not education. Despite of these results, board size was still a stronger indicator of diversity. In addition, ownership concentration was linked to an increased likelihood of educational diversity, and lower national diversity. On the contrary, no support was found regarding nomination type's influence on board turnover. Commonly employed explanatory factors, such as company performance, CEO change as well as board size, on the other hand, displayed expected association with turnover. Subtle indications regarding the contribution of ownership dispersion, presence of over 65 year old directors as well as majority shareholder change on turnover were further detected. en
dc.format.extent 95
dc.language.iso en en
dc.title Who nominates the board? - Implications on board diversity and turnover en
dc.type G2 Pro gradu, diplomityö fi
dc.contributor.school Kauppakorkeakoulu fi
dc.contributor.school School of Business en
dc.contributor.department Laskentatoimen laitos fi
dc.contributor.department Department of Accounting en
dc.subject.keyword corporate governance
dc.subject.keyword board of directors
dc.subject.keyword diversity
dc.subject.keyword turnover
dc.subject.keyword nomination committee
dc.subject.keyword director selection
dc.subject.keyword hallitus
dc.subject.keyword monimuotoisuus
dc.subject.keyword vaihtuvuus
dc.subject.keyword nimitysvaliokunta
dc.subject.keyword hallituksen valinta
dc.identifier.urn URN:NBN:fi:aalto-201408062324
dc.type.dcmitype text en
dc.programme.major Accounting en
dc.programme.major Laskentatoimi fi
dc.type.ontasot Master's thesis en
dc.type.ontasot Pro gradu tutkielma fi
dc.subject.helecon laskentatoimi
dc.subject.helecon accounting
dc.subject.helecon corporate governance
dc.subject.helecon corporate governance
dc.subject.helecon johtaminen
dc.subject.helecon management
dc.subject.helecon hallitukset
dc.subject.helecon boards of directors
dc.subject.helecon päätöksenteko
dc.subject.helecon decision making
dc.ethesisid 13619
dc.date.dateaccepted 2014-05-21
dc.location P1 I fi

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