Izvorni znanstveni članak
https://doi.org/10.18045/zbefri.2022.1.79
The influence of demographic, cultural, and educational background in the boardroom on firm performance – The Croatian evidence
Tomislava Pavić Kramarić
orcid.org/0000-0002-0974-4423
Marko Miletić
orcid.org/0000-0002-6955-3047
Sažetak
This study investigates the demographic, cultural and educational features of
management boards of Croatian manufacturers. The analysis, conducted using
static panel analysis, encompasses the period from 2015 to 2019. To the impact of
different board characteristics on firm performance expressed with accountingoriented performance measures such as return on assets (ROA) and return on
equity (ROE), this study includes several explanatory variables comprising CEO
tenure, age of the board members, the share of foreigners in the boardroom and
finance educational background. Additionally, a few firm-specific variables
included in the research are firm size, leverage, and firm age. The analysis findings
reveal that board composition plays a crucial role when explaining the firm’s
profitability. Furthermore, the firm’s maturity and leverage additionally prove to
be significant factors affecting corporate performance.
Ključne riječi
demographic board diversity; cultural board diversity; firm performance; Croatian manufacturers
Hrčak ID:
279906
URI
Datum izdavanja:
30.6.2022.
Posjeta: 653 *