Growth Intentions and Board Composition in High‐Growth Firms

Casper Claudi Rasmussen, Gro Ladegård and Silja Korhonen‐Sande

Journal of Small Business Management, 2018, vol. 56, issue 4, 601-617

Abstract: This paper examines the influence of board composition on growth intentions of high‐growth firms. We hypothesize that gender diversity and a high proportion of independent directors on the board will reduce a firm's growth intentions, whereas founder duality will increase a firm's growth intentions. Using survey data from 773 high‐growth Norwegian firms, we find that gender diversity has a negative effect on growth intentions. A high proportion of independent directors do not facilitate further growth in high‐growth firms. Furthermore, our results indicate that the founder's presence in the decision‐making group increases a firm's growth intentions.

Date: 2018
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DOI: 10.1111/jsbm.12307

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