Wpływ wielkości rady dyrektorów na wartość przedsiębiorstwa
The Influence of the Size of the Board of Directors on the Value of the Company
Author(s): Dariusz SiudakSubject(s): Energy and Environmental Studies, Financial Markets, Human Resources in Economy
Published by: Społeczna Akademia Nauk
Keywords: board of directors; corporate value; interlocking directorates
Summary/Abstract: The article discusses the impact of the size of the board of directors on the value of companies on the Polish capital market. According to the resource-dependence theory, the board of directors is seen as an important instrument in reducing uncertainty in the business environment by providing key resources controlled by external entities. Regression analysis shown statistically significant positive impact of the size of the board of directors on enterprise value measured by Tobin’s Q ratio and market capitalization.
Journal: Przedsiębiorczość i Zarządzanie
- Issue Year: 17/2016
- Issue No: 9.2
- Page Range: 263-281
- Page Count: 20
- Language: Polish