In:
International Review of Finance, Wiley
Abstract:
In this study, we investigate the impact of academic directors on a firm's performance and decisions in the Taiwan equity market. We find that firms with more independent directors and board size are more likely to appoint academic directors, and academic directors can improve firm performance. The presence of academic directors positively affects firm performance through channels like more capital expenditure and larger R & D expenses. Academic directors with finance and technology backgrounds positively correlate with both Tobin's Q and ROA. Moreover, the appropriate match of expertise between firms and their academic directors contributes to a better performance. However, corporations with academic directors have a higher compensation gap between top managers and employees.
Type of Medium:
Online Resource
ISSN:
1369-412X
,
1468-2443
Language:
English
Publisher:
Wiley
Publication Date:
2023
detail.hit.zdb_id:
2034475-2
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