Relation between board composition and firm performance in Japan
Relation between board composition and firm performance in Japan
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发表时间：
2017-03
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通讯作者：
H. Sakawa;Naoki Watanabel;U. Ben-Zion
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作者：
H. Sakawa;Naoki Watanabel;U. Ben-Zion
本文考察了20世纪90年代初日本公司业绩与董事会结构之间的关系，并考虑了日本其他一些公司治理机制，如金融经连会。这些分析揭示了两个突出的结果。第一，日本的董事会规模与企业绩效之间的关系与美国一样，呈现出U型的关系。因此，日本的董事会规模越大越好。第二，我们可以发现，日本公司治理特征，如财务经连会和企业绩效之间没有显着的关系，在20世纪90年代初。
This paper presents an examination of the relation between firm performance and board structure in Japan in the early 1990s, considering some other Japanese corporate governance mechanisms such as financial keiretsu. These analyses reveal two salient results. First, a U-shaped relation is apparent between board size and firm performance in Japan, as exists in the U.S. Therefore, very large or small boards are better for firms in Japan. Second, we can find no significant relation between Japanese corporate governance features such as financial keiretsu and firm performance during the early 1990s.