Structural |
Independence of BD |
Percentage of independent board members |
Ararat et al. (2010)Ararat, M., Aksu, M. H., & Cetin, A. T. (2010). The impact of board diversity on boards' monitoring intensity and firm performance: Evidence from the istanbul stock exchange. Recuperado de http://ssrn.com/abstract=1572283
http://ssrn.com/abstract=1572283...
, Ben-Amar et al. (2013)Ben-Amar, W., Francoeur, C., Hafsi, T., & Labelle, R. (2013). What makes better boards? A closer look at diversity and ownership. British Journal of Management, 24(1), 85-101. doi:10.1111/j.1467-8551.2011.00789.x https://doi.org/10.1111/j.1467-8551.2011...
, Fraga and Silva (2012)Fraga, J. B., & Silva, V. A. B. (2012). Board diversity and firm performance: An empirical investigation in the Brazilian market. Brazilian Business Review, 9(Special Ed), 55-77. doi:10.15728/bbrconf.2012.3 https://doi.org/10.15728/bbrconf.2012.3...
,Mendes-da-Silva et al. (2007)Mendes-da-Silva, W., Famá, R., & Martelanc, R. (2007). Governança corporativa e decisões de estrutura de capital em empresas brasileiras listadas. XXXI Encontro da ANPAD, Rio de Janeiro, RJ.
|
Structural |
Duality of CEO |
Dummy, 0 if the CEO of the company is also the Board President |
Ben-Amar et al. (2013)Ben-Amar, W., Francoeur, C., Hafsi, T., & Labelle, R. (2013). What makes better boards? A closer look at diversity and ownership. British Journal of Management, 24(1), 85-101. doi:10.1111/j.1467-8551.2011.00789.x https://doi.org/10.1111/j.1467-8551.2011...
, Harford et al. (2008)Harford, J., Li, K., & Zhao, X. (2008). Corporate boards and the leverage and debt maturity choices. International Journal of Corporate Governance, 1(1), 3-27. doi:10.1504/IJCG.2008.017648 https://doi.org/10.1504/IJCG.2008.017648...
, Mendes-da-Silva et al. (2007)Mendes-da-Silva, W., Famá, R., & Martelanc, R. (2007). Governança corporativa e decisões de estrutura de capital em empresas brasileiras listadas. XXXI Encontro da ANPAD, Rio de Janeiro, RJ.
|
Social |
Age |
Coefficient of variation of ages of board members |
Ali, Ng, & Kulik (2014)Ali, M., Ng, Y. L., & Kulik, C. T. (2014). Board age and gender diversity: A test of competing linear and curvilinear predictions. Journal of Business Ethics, 125(3), 497-512. doi:10.1007/s10551-013-1930-9 https://doi.org/10.1007/s10551-013-1930-...
, Anderson et al. (2011)Anderson, R. C., Reeb, D. M., Upadhyay, A., & Zhao, W. (2011). The economics of director heterogeneity. Financial Management, 40(1), 5-38. doi:10.1111/j.1755-053X.2010.01133.x https://doi.org/10.1111/j.1755-053X.2010...
, Ararat et al. (2010)Ararat, M., Aksu, M. H., & Cetin, A. T. (2010). The impact of board diversity on boards' monitoring intensity and firm performance: Evidence from the istanbul stock exchange. Recuperado de http://ssrn.com/abstract=1572283
http://ssrn.com/abstract=1572283...
, Fraga and Silva (2012)Fraga, J. B., & Silva, V. A. B. (2012). Board diversity and firm performance: An empirical investigation in the Brazilian market. Brazilian Business Review, 9(Special Ed), 55-77. doi:10.15728/bbrconf.2012.3 https://doi.org/10.15728/bbrconf.2012.3...
|
Social |
Gender |
Percentage of women on the BD |
Ali et al. (2014)Ali, M., Ng, Y. L., & Kulik, C. T. (2014). Board age and gender diversity: A test of competing linear and curvilinear predictions. Journal of Business Ethics, 125(3), 497-512. doi:10.1007/s10551-013-1930-9 https://doi.org/10.1007/s10551-013-1930-...
, Anderson et al. (2011)Anderson, R. C., Reeb, D. M., Upadhyay, A., & Zhao, W. (2011). The economics of director heterogeneity. Financial Management, 40(1), 5-38. doi:10.1111/j.1755-053X.2010.01133.x https://doi.org/10.1111/j.1755-053X.2010...
, Ben- Amar et al. (2013)Ben-Amar, W., Francoeur, C., Hafsi, T., & Labelle, R. (2013). What makes better boards? A closer look at diversity and ownership. British Journal of Management, 24(1), 85-101. doi:10.1111/j.1467-8551.2011.00789.x https://doi.org/10.1111/j.1467-8551.2011...
, Ararat et al. (2010)Ararat, M., Aksu, M. H., & Cetin, A. T. (2010). The impact of board diversity on boards' monitoring intensity and firm performance: Evidence from the istanbul stock exchange. Recuperado de http://ssrn.com/abstract=1572283
http://ssrn.com/abstract=1572283...
,Fraga and Silva (2012)Fraga, J. B., & Silva, V. A. B. (2012). Board diversity and firm performance: An empirical investigation in the Brazilian market. Brazilian Business Review, 9(Special Ed), 55-77. doi:10.15728/bbrconf.2012.3 https://doi.org/10.15728/bbrconf.2012.3...
, |
Social |
Nationality |
Percentage of foreigners on the BD |
Anderson et al. (2011)Anderson, R. C., Reeb, D. M., Upadhyay, A., & Zhao, W. (2011). The economics of director heterogeneity. Financial Management, 40(1), 5-38. doi:10.1111/j.1755-053X.2010.01133.x https://doi.org/10.1111/j.1755-053X.2010...
, Ararat et al. (2010)Ararat, M., Aksu, M. H., & Cetin, A. T. (2010). The impact of board diversity on boards' monitoring intensity and firm performance: Evidence from the istanbul stock exchange. Recuperado de http://ssrn.com/abstract=1572283
http://ssrn.com/abstract=1572283...
, Ben-Amar et al. (2013)Ben-Amar, W., Francoeur, C., Hafsi, T., & Labelle, R. (2013). What makes better boards? A closer look at diversity and ownership. British Journal of Management, 24(1), 85-101. doi:10.1111/j.1467-8551.2011.00789.x https://doi.org/10.1111/j.1467-8551.2011...
, |
Occupational |
Education: area of qualification |
Blau Index considering area of undergraduate classification |
Anderson et al. (2011)Anderson, R. C., Reeb, D. M., Upadhyay, A., & Zhao, W. (2011). The economics of director heterogeneity. Financial Management, 40(1), 5-38. doi:10.1111/j.1755-053X.2010.01133.x https://doi.org/10.1111/j.1755-053X.2010...
, Kim (2014)Kim, K. (2014). Board heterogeneity: Double-edged sword? Focusing on the moderating effects of risk on heterogeneity-performance linkage. Academy of Strategic Management Journal, 13(1), 129-145., Fraga and Silva (2012)Fraga, J. B., & Silva, V. A. B. (2012). Board diversity and firm performance: An empirical investigation in the Brazilian market. Brazilian Business Review, 9(Special Ed), 55-77. doi:10.15728/bbrconf.2012.3 https://doi.org/10.15728/bbrconf.2012.3...
|
Occupational |
Education: level of schooling |
Blau Index considering area of undergraduate classification (up to doctoral level) |
Anderson et al. (2011)Anderson, R. C., Reeb, D. M., Upadhyay, A., & Zhao, W. (2011). The economics of director heterogeneity. Financial Management, 40(1), 5-38. doi:10.1111/j.1755-053X.2010.01133.x https://doi.org/10.1111/j.1755-053X.2010...
,Ararat et al. (2010)Ararat, M., Aksu, M. H., & Cetin, A. T. (2010). The impact of board diversity on boards' monitoring intensity and firm performance: Evidence from the istanbul stock exchange. Recuperado de http://ssrn.com/abstract=1572283
http://ssrn.com/abstract=1572283...
|
Occupational |
Professional: CEO |
Percentage of members who hold, or have held, the role of CEO |
Anderson et al. (2011)Anderson, R. C., Reeb, D. M., Upadhyay, A., & Zhao, W. (2011). The economics of director heterogeneity. Financial Management, 40(1), 5-38. doi:10.1111/j.1755-053X.2010.01133.x https://doi.org/10.1111/j.1755-053X.2010...
|
Occupational |
Professional: experience on the job |
Number of different areas of expertise represented among the BD members |
Anderson et al. (2011)Anderson, R. C., Reeb, D. M., Upadhyay, A., & Zhao, W. (2011). The economics of director heterogeneity. Financial Management, 40(1), 5-38. doi:10.1111/j.1755-053X.2010.01133.x https://doi.org/10.1111/j.1755-053X.2010...
,Kim (2014)Kim, K. (2014). Board heterogeneity: Double-edged sword? Focusing on the moderating effects of risk on heterogeneity-performance linkage. Academy of Strategic Management Journal, 13(1), 129-145.
|
Occupational |
Experience on BDs |
Coefficient of variation of the number of seats on BDs apart from that of the company considered |
Anderson et al. (2011)Anderson, R. C., Reeb, D. M., Upadhyay, A., & Zhao, W. (2011). The economics of director heterogeneity. Financial Management, 40(1), 5-38. doi:10.1111/j.1755-053X.2010.01133.x https://doi.org/10.1111/j.1755-053X.2010...
|