Board characteristics and corporate value: evidence from Thailand
Abstract
Purpose
This paper aims to examine the influence of corporate board structure on corporate value.
Design/methodology/approach
The data were collected on a sample of 245 Thai non‐financial listed companies to examine the effect of board structure on firm performance.
Findings
The results show that neither independent directors nor grey directors are the significant determinants of improving firm value.
Research limitations/implications
This research was confined to 245 Thai non‐financial listed companies. It would be useful to replicate it using larger samples under different country settings.
Practical implications
The findings provide guidance to top managers in deciding the Board structure as corporate value is also grounded in corporate board structure.
Originality/value
The paper provides far reaching implications for corporate managers about the relationship between Board characteristics and corporate value.
Keywords
Citation
Yammeesri, J. and Kanthi Herath, S. (2010), "Board characteristics and corporate value: evidence from Thailand", Corporate Governance, Vol. 10 No. 3, pp. 279-292. https://doi.org/10.1108/14720701011051910
Publisher
:Emerald Group Publishing Limited
Copyright © 2010, Emerald Group Publishing Limited