Board of Diretor Education and Firm Performance: a Dynamic Approach
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Journal Title
Journal ISSN
Volume Title
School of Business |
Master's thesis
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Author
Date
2016
Department
Major/Subject
Rahoitus
Finance
Finance
Mcode
Degree programme
Language
en
Pages
61
Series
Abstract
I examine the relationship between board of director's (BoD) education and firm performance on a European dataset over the period from 1999 to 2013, employing a well-developed dynamic panel generalized method of moments (GMM) estimator to alleviate endogeneity issue in corporate governance study. I find no correlation between BoD education and firm's return on asset, after accounting for endogeneity issues. All else equal, firms with better educated board of director may appear to have better performance in the short-run, but that superiority will likely to reverse in the future.Description
Keywords
corporate governance, firm performance, endogeneity,
