New Zealand Corporate Boards in Transition: Composition, Activity and Incentives Between 1995 and 2010

Glenn Boyle () and Xu (Jane) Ji

Working Papers in Economics from University of Canterbury, Department of Economics and Finance

Abstract: We document, describe and interpret changes in New Zealand corporate board characteristics between 1995 and 2010, a period centred around the 2003 introduction of the NZX Corporate Governance Best Practice Code. Unsurprisingly, the representation of non-executive, independent and female directors on NZ boards rose during the period, as did real chair and director fees and the importance of board committees, while average board size fell. Perhaps more surprisingly, much of this movement occurred before 2003. However, the magnitude of these changes frequently varies according to firm size, and there are some intriguing differences between New Zealand board characteristics and those prevailing in other, larger, countries. We use this information to identify a number of unanswered questions about New Zealand corporate boards.

Keywords: corporate governance, board of directors; board structure (search for similar items in EconPapers)
JEL-codes: G34 G38 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2011-11-24
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:cbt:econwp:11/36

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