Econometric Analysis
Econometric Analysis
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DOI：
10.1007/978-3-030-56239-7_5
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发表时间：
2021
期刊：
影响因子：
--
通讯作者：
B. Buchetti
中科院分区：
文献类型：
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作者：
B. Buchetti
在本章中，我提出了基线计量经济模型，并研究异质性对公司业绩的影响。具体而言，我表明，社会，整体和全球异质性与企业绩效不相关，而职业异质性与绩效呈正相关。最后，本文利用整体异质性指标，估计了一个回归模型，验证了异质性与独立董事人数之间的关系。其观点是，家族成员选择独立董事的目的是引进他们异质的知识、经验和外部关系，而这些在家族董事中可能是缺失的。结果支持这一假设。第四部分，验证了“非强制性变量”和“强制性变量”与企业绩效之间的关系。
In this chapter, I present the baseline econometric model and investigate the impact of heterogeneity on firm performance. Specifically, I show that the social, overall, and global heterogeneities are not correlated with firm performance, while the occupational heterogeneity is positively correlated with performance. In the last part, using the global heterogeneity index, I estimate a regression model to verify the relationship between heterogeneity and the number of independent directors. The idea is that family members select independent directors with the aim of importing their heterogenous knowledge, experience, and external connections, which can be missing among family directors. The results support this hypothesis. In the last part, I verify the relation between the “not mandatory variables” and “mandatory variables” and firms’ performance.