Publication Type
Journal Article
Version
publishedVersion
Publication Date
10-2021
Abstract
The study investigates the relationship between six board compositions and stock returns. The results indicate a significant association between various board compositions and stock returns. Specifically, board size and executive directors have a negative impact, whereas independent directors enhance stock returns. Busy directors positively impact the abnormal stock returns for the companies in the non-financial industry, which implies that busy directors who serve on more boards tend to be well connected. More importantly, the results indicate a significant positive relationship between board tenure and stock returns. Board service time is perceived as the board quality of knowledge and experience from the investors’ point of view.
Keywords
Corporate governance, Board structure, Board composition, Stock return, Abnormal return
Discipline
Corporate Finance | Finance and Financial Management
Research Areas
Finance
Publication
International Journal of Business and Economics
Volume
6
Issue
2
First Page
76
Last Page
87
ISSN
2545-4137
Identifier
10.5281/zenodo.5565466
Citation
CHIRAPHOL, Chiyachantana N.; PATTANAWIHOK, Siripen; and PrRASARNPHANICH, Pattarawan.
Board composition, board diversity and stock performance. (2021). International Journal of Business and Economics. 6, (2), 76-87.
Available at: https://ink.library.smu.edu.sg/lkcsb_research/6840
Copyright Owner and License
Authors-CC-BY
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://doi.org/10.5281/zenodo.5565466