Does board size influence the firm performance? A global literature review

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Does board size influence the firm performance? A global literature review"


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Adams, R.B. and Mehran, H. (2012), “Bank board structure and performance: evidence for large bank holding companiesâ€, Journal of Financial Intermediation, Vol. 21, No. 2, pp. 243-267.


Adhikary, B. K. and Hoang, L.H.G. (2014), “Board structure and firm performance in emerging economies: evidence from Vietnamâ€, Ruhuna Journal of Management and Finance, Vol. 1, No. 1, pp.


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(2015), “The impact of board structure and ownership structure on firm performance: an evidence from blue chip firms listed in Indonesian stock exchangeâ€, Corporate Ownership &


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firm performance: a comparison of Japan and Australiaâ€, Asian Business and Management, Vol.3, No. 1, pp.105-125. De Andres, P., Azofra, V. and Lopez, F. (2005), “Corporate boards in OECD


countries: size, composition, functioning and effectivenessâ€, Corporate Governance, Vol. 13, No. 2, pp. 197-210. De Andres, P. and Vallelado, E. (2013), “Corporate governance in banking:


the role of the board of directorsâ€, Journal of Banking & Finance, Vol. 32, No. 1, pp. 25702580. De Pietra, R. (2008), “The effects of board size and busy directors on the market


value of Italian companiesâ€, Journal of Manage Governance, Vol. 12, No. 1, pp. 73-91. Dzingai, I. and Fakoya, M.B. (2017), “Effect of corporate governance structure on the fi nancial


performance of Johannesburg Stock Exchang (JSE)-Listed Mining Firmsâ€, Sustainability, Vol. 9, No. 1, pp. 867882. Eisenberg, T., Sundgren, S. and Wells, M.T. (1998), “Larger board size and


decreasing firm value in small firmsâ€, Journal of Financial Economics, Vol. 48, No. 1, pp. 35-54. Fauzi, F. and Locke, S. (2012), “Board structure, ownership structure and firm


performance: a study of New Zealand listed-firmsâ€, Asian Academy Of Management Journal of Accounting and Finance, Vol. 8, No. 2, pp. 43-67. Garg, A.K. (2007), “Infl uence of board size


and independence on firm performance: a study of Indian companiesâ€, Vikalpa, Vol. 32, No. 3, pp. 39-60. Ghosh, A. (2003), “Board structure, executive compensation and firm performance in


emerging economies: evidence from Indiaâ€, Working Paper, Indira Gandhi Institute of Development Research, Mumbai, India. Ghosh, S. (2007), “Board diligence, director busyness and


corporate governance: an empirical analysis for Indiaâ€, Review of Applied Economics, Vol. 3, No. 1 & 2, pp. 91-104. Guest, P.M. (2009), “The impact of board size on firm performance:


evidence from the UKâ€, The European Journal of Finance, Vol. 15, No. 4, pp. 385-404. Gull, A. A., Saeed, A. and Abid, A. (2013), “Corporate governance and performance: an empirical


evidence from textile sector of Pakistanâ€, African Journal of Business Management, Vol. 7, No. 22, pp. 2112-2118. Haniffa, R. and Hudaib, M. (2006), “Corporate governance structure and


performance of Malaysian listed companiesâ€, Journal of Business Finance & Accounting, Vol. 33, No. 7 & 8, pp. 1034-1062. Hemza, B. (2020), “Board of directors’s size and firm


performance: evidence from non-financial French firms listed on Cac 40â€, Studies in Business and Economics, Vol. 15, No. 2, pp. 46-61. Horvath, R. and Spirollari, P. (2012), “Do the board


of directors’ characteristics infl uence firm’s performance? The U.S. evidenceâ€, Prague Economic Papers, Vol. 4, No. 1, pp. 470-486. Jackling, B. and Johl, S. (2009), “Board


Structure and Firm Performance: Evidence from India’s Top Companiesâ€, Corporate Governance: An International Review, Vol. 17, No. 4, pp. 492-509. Kajola, S.O. (2008), “Corporate


governance and firm performance: the case of Nigerian listed firmsâ€, European journal of economics, finance and administrative sciences, Vol. 14, No. 1, pp. 16-29. Kalsie, A. and


Shrivastav, S.M. (2016), “Analysis of board size and firm performance: evidence from NSE companies using panel data approachâ€, Indian Journal of Corporate Governance, Vol. 9, No. 2, pp.


148-172. Kao, MF., Hodgkinson, L. and Jaafar, A. (2019), “Ownership structure, board of directors and firm performance: evidence from Taiwanâ€, Corporate Governance, Vol. 19, No. 1, pp.


189-216. Kathuria, V. and Dash, S. (1999), “Board size and corporate fi nancial performance: an investigationâ€, Vikalpa, Vol. 24, No. 3, pp. 11-17. Kumar, N. and Singh, J.P. (2013),


‘â€Effect of board size and promoter ownership on firm value: some empirical findings from Indiaâ€, Corporate Governance, Vol. 13, No. 1, pp. 88-98. Kyereboah-Coleman, A. (2008),


“Corporate governance and firm performance in Africa: a dynamic panel data analysisâ€, Studies in Economics and Econometrics, Vol. 32, No. 2, pp. 1-24. Manna, A., Sahu, T.N. and Gupta, A.


(2016), “Impact of ownership structure and board composition on corporate performance in Indian companiesâ€, Indian Journal of Corporate Governance, Vol. 9, No. 1, pp. 44-66. Mashayekhi,


B. and Bazaz, M. S. (2008), “Corporate governance and firm performance in Iranâ€, Journal of Contemporary Accounting Economics, Vol. 4, No. 2, pp. 156172. Merendino, A. and Melville, R.


(2019), “The board of directors and firm performance: empirical evidence from listed companiesâ€, Corporate Governance, Vol. 19, No. 3, pp. 508551. O’Connell, V. and Cramer, N. (2010),


“The relationship between firm performance and board characteristics in Irelandâ€, European Management Journal, Vol. 28, No. 1, pp. 387-399. Pratheepkanth, P., Hettihewa, S. and Wright, C.


S. (2015), “Effects of board structure on firm performance: a comparison between Australia and Sri Lankaâ€, Proceedings of 4th Global Business and Finance Research Conference 25 - 27 May,


Marriott Hotel, Melbourne, Australia. Puni, A and Anlesinya, A. (2020), “Corporate governance mechanisms and firm performance in a developing countryâ€, International Journal of Law and


Management, Vol. 62, No. 2, pp. 147-169. Rashid, A. et al. (2010), “Board composition and firm performance: evidence from Bangladeshâ€, Australasian Accounting, Business and Finance


Journal, Vol. 4, No. 1, pp. 76-95. Rodríguez-Fernández, M. (2014), “Company fi nancial performance: does board size matter?†Case of the EUROSTOXX50 index, Cuadernos de Gestión , Vol.


15, No. 2, pp. 15-38. Sanda, A.U. (2011), “Board independence and firm fi nancil performance: evidence from Nigeriaâ€, AERC Research Paper 213, African Economic Research Consortium,


Nairobi. Sarkar, J. and Sarkar, S. (2018), “Bank ownership, board characteristics and performance: evidence from commercial banks in Indiaâ€, International Journal of Business Studies,


Vol. 6, No. 17, pp. 1-30. Saravanan, P. (2009), “Corporate governance characteristics and company performance of family owned and non-family owned businesses in Indiaâ€, Great Lakes


Herald, Vol. 3, No. 1, pp. 39-54. Setia-Atmaja, L.Y. (2008), “Does board size really matter? Evidence from Australiaâ€, Gadjah Mada International Journal of Business, Vol. 10, No. 3, pp.


331-352. Shao, L. (2019), “Dynamic study of corporate governance structure and firm performance in China: Evidence from 2001-2015â€, Chinese Management Studies, Vol. 13, No. 2, pp.


299-317. Singla, C. (2016), “Impact of Board and CEO characteristics on Firms’ Performanceâ€, Working paper, W.P. No. 2016-03-35, Indian Institute of Management, Ahmadabad, India Vo, D.


and Phan, T. (2013), “Corporate governance and firm performance: empirical evidence from Vietnamâ€, Journal of Economic Development, Vol. 7, No. 1, pp. 62-78. Yermack, D. (1996), “Higher


market valuation of companies with a small board of directorsâ€, Journal of Financial Economics, Vol. 40, No. 2, pp. 185-211. Zabri, S.M. et al. (2016), “Corporate governance practices


and firm performance: evidence from top 100 public listed companies in Malaysiaâ€, Procedia Economics and Finance, Vol. 35, No. 1, pp. 287-296.


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