EMPIRICAL STUDY OF THE INFLUENCE OF BOARD OF DIRECTORS’ FEATURE ON FIRM PERFORMANCE

Abstract

Earlier research on corporate governance, which includes board size as one of its major components, and business performance has expanded substantially in the last three decades. In this research, we analyze several studies that have been published between 2013 and 2021 to give a clear picture of the relationship. Furthermore, a brief review of the previous studies that have been done in several countries are introduced. We indicated that the number of publications that meet our search parameters had risen gradually over time, peaking in 2013 and other years. We identified two key types called (1) board size and firm performance as well as (2) CEO duality. We see a shift away from theoretical ideas, for instance, ‘responsibility,’ ‘society,’ and ‘morals,’ and toward increasingly concrete and workable phrases like ‘CEO duality’ and board size. Our research reveals that the study on firm performance and corporate governance is shifting from a theoretical strategy towards a more tactical and operational strategy.

Keywords

• board of directors
• firm performance
• accounting
• economics