Does Board Overlap Affect Firm Performance?
Sammanfattning: This study examines the relationship between board overlap and firm performance among firms listed on the Nasdaq OMX Stockholm Stock Exchange, using unbalanced panel data and linear regression models. It aims to further investigate if there is a relationship between directors serving on multiple boards simultaneously and firm performance. We use average directorships per director and Tobin's Q as main variables measuring board overlap and firm performance, respectively. Although our results are ambiguous and somewhat conflicting, they suggest that board overlap and firm performance are possibly interrelated. When including assignments in both listed and unlisted firms, we find a negative and significant relationship between average directorships per director and Tobin's Q.
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