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The impact of the characteristics of the board of directors on the financial performance of Tunisian companies

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  • Bouaziz Zied
  • Triki Mohamed

Abstract

The board of directors plays a key role as an internal mechanism of corporate governance. Indeed, its effectiveness is dependent on the presence of several factors, the most important are related to characteristics that relate primarily to the independence of its members, board size, the cumulative functions of decision and control, the degree of independence of the audit committee and the gender diversity of the board. To test the validity of our hypothesis, which states the existence of a certain deterministic between the board's characteristics and financial performance measured by three different ratios, namely ROA, ROE and Tobin's Q, we have developed three linear regression models. Our empirical validation was conducted on a sample of 26 companies listed on the Tunisian Stock Exchange (TSE) over a period that spans four years (2007-2010). The estimated models show satisfactory results showing the importance of the impact of board characteristics on financial performance of Tunisian companies.

Suggested Citation

  • Bouaziz Zied & Triki Mohamed, 2013. "The impact of the characteristics of the board of directors on the financial performance of Tunisian companies," International Journal of Managerial and Financial Accounting, Inderscience Enterprises Ltd, vol. 5(2), pages 178-201.
    • Handle: RePEc:ids:injmfa:v:5:y:2013:i:2:p:178-201
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    Cited by:

    1. Francesco Caputo & Manlio Del Giudice & Federica Evangelista & Giuseppe Russo, 2016. "Corporate disclosure and intellectual capital: the light side of information asymmetry," International Journal of Managerial and Financial Accounting, Inderscience Enterprises Ltd, vol. 8(1), pages 75-96.
    2. Matteo Rossi & Serena Galasso & Arturo Capasso, 2017. "Women Do it Better: An Investigation on the Association between Gender Diversity In Board of Directors and the Financial Performance," International Journal of Economics and Financial Issues, Econjournals, vol. 7(6), pages 41-50.

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