Open AccessThe effect of the board of directors’ characteristics on the performance of French companies listed on the (CAC 40) Index during 2015-2017
Author(s) -
Hamza Boussenna
Publication year - 2018
Publication title -
journal of finance and corporate governance
Language(s) - English
Resource type - Journals
eISSN - 2602-5655
pISSN - 2661-7501
DOI - 10.54960/jfcg.v2i2.23
Subject(s) - accounting , stewardship theory , index (typography) , business , principal–agent problem , agency (philosophy) , stewardship (theology) , actuarial science , finance , corporate governance , political science , politics , law , world wide web , computer science , philosophy , epistemology
This study aims to examine the impact of characteristics of the board of directors on the performance of non-financial French companies listed on the (CAC 40) index during the period 2015-2017. We estimated the firm performance using two types of measures (the accounting and market measures). The findings of the study show that the percentage of independent directors and CEO duality had a negative impact on the performance, which is consistent with the stewardship theory and agency theory respectively, the results also show that there is a significant negative relationship between the number of the board of directors’ meetings and the firm performance.