Do Ceo Duality and Board Heterogeneity Affect Firm Performance?Evidence from Istambul Stock Exchange (ISE)SErvices Index

• Autorzy: Harman Serhat , Polat Ebru Kanyilmaz

Warianty tytułu

Wpływ struktury rad nazdorczych oraz kontaktów z dyrektorem generalnym na wydajność firmy na przykładzie przedsiębiorstw usługowych notowanych na giełdzie w Istambule (Istambul Stock Exchange (ISE))

• Języki publikacji: EN

Abstrakty

EN

Board of directors plays important role in the corporate governance of publicly listed companies, and therefore understanding the determinants of board structure is an important research in the management area. Recently, theoretical and empirical works show there is high level of attention has given to the topic. Also in the management research, basic premise is that top management plays a dominant role in formulating corporate strategy. Gioia and Chittipeddi, define CEO as someone who has primary responsibility for setting strategic directions and plans for the organization, as well as responsibility for guiding actions that will realize those plans. Most of the studies about CEO duality and board heterogeneity studies have been conducted in the US. and Western Europe settings. So there is a need for understanding of how CEO duality and board heterogeneity affect firm performance differ in countries with different legal, institutional and regulatory systems of developing countries. In this study, effects of CEO duality and board heterogeneity on firms performance was examining with sample of 34 firms which are traded ISE Services Index between periods of 2005-2007. Data was obtained from annual reports and corporate governance reports of these firms. Rest of the paper follows as, theoretical background and hypothesizes of study. Sample design and measurement variables findings, and discussions and managerial implications presented.(original abstract)

Rady nadzorcze pełnią kluczową rolę w funkcjonowaniu firm. W artykule dokonano oceny wpływu rad nadzorczych oraz dwoistej roli CEO (dyrektora generalnego) pełniącego czasem również rolę prezesa zarządu na wyniki finansowe spółek z ISE mierzone za pomocą ROA i indeksu Tobina w latach 2005 - 2007. Z badań wynika, że w przypadku 78% firm, funkcje dyrektora generalnego i prezesa zarządu są rozdzielone. Średnia wielkość rady nadzorczej wynosi 6,88. Z przedstawionych w artykule badań wynika, że pełnienie przez dyrektora generalnego również roli prezesa zarządu nie ma wpływu na wyniki finansowe firm.(abstrakt autora)

Słowa kluczowe

EN

Supervisory board; Service enterprise; Stock exchange

PL

Rada nadzorcza; Przedsiębiorstwo usługowe; Giełda

• Czasopismo: Zeszyty Naukowe Uniwersytetu Szczecińskiego. Scientific Journal. Service Management
• Rocznik: 2012
• Tom: 8
• Strony: 85--95

Twórcy

autor

Harman Serhat

• Canakkale Onsekiz Mart University, Turkey

autor

Polat Ebru Kanyilmaz

• Canakkale Onsekiz Mart University, Turkey

Bibliografia

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