Abstract
This study aims at analyzing the board structure and its impact on
firm performance in the context of an emerging economy, Turkey. Emerging
economies are characterised by poorly-developed legal systems, under-developed
markets for corporate control and concentrated ownership structures.
This context is expected to have an impact not only on the board
structure but also on the relationship between board structure and
firm performance. Drawing from agency, stewardship and resource dependence
theories and emphasising the impact of the societal context in line
with macro institutional approaches, hypotheses are developed regarding
the board structure/firm performance relationship. Findings tend
to show that board structure does not have a significant impact on
performance. © 2008, Inderscience Publishers.
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