The Indirect Impact of the Board of Directors' Composition on the Firm's Performance: An International Comparison

Zouari Ghazi and Zouari-Hadiji Rim

Asian Journal of Empirical Research, 2014, vol. 4, issue 10, 468-487

Abstract: As part of corporate governance theory, this article studies the relationship between the board of directors and the firm's performance from the angle of the R&D investment level in the international context. Our model seeks to show if the R&D investment level acts as a mediating variable between the internal mechanism of corporate governance and performance. This effect is sensitive to the national systems of governance. This empirical study is based on a sample of 174 U.S. and 179 Japanese firms for the period 2008-2012. The results of the linear regressions conducted showing the relationship between, on the one hand, the internal administrator and the non-dual structure, and on the other hand, the firm's performance, meditated by the firm's R&D investment-level.

Keywords: Internal administrator; dual structure; R&D; performance (search for similar items in EconPapers)
Date: 2014
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