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Aalto University School of Business Master's Theses are now in the Aaltodoc publication archive (Aalto University institutional repository)
School of Business | Department of Finance | Finance | 2016
Thesis number: 14710
Board of Diretor Education and Firm Performance: a Dynamic Approach
Author: Phan, Hung
Title: Board of Diretor Education and Firm Performance: a Dynamic Approach
Year: 2016  Language: eng
Department: Department of Finance
Academic subject: Finance
Index terms: rahoitus; corporate governance; tulos; johtajat; koulutus
Pages: 61
Full text:
» hse_ethesis_14710.pdf pdf  size:2 MB (1283633)
Key terms: corporate governance, firm performance, endogeneity,
Abstract:
I examine the relationship between board of director's (BoD) education and firm performance on a European dataset over the period from 1999 to 2013, employing a well-developed dynamic panel generalized method of moments (GMM) estimator to alleviate endogeneity issue in corporate governance study. I find no correlation between BoD education and firm's return on asset, after accounting for endogeneity issues. All else equal, firms with better educated board of director may appear to have better performance in the short-run, but that superiority will likely to reverse in the future.
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