Evaluating sport club board performance : a customer perspective

Customers are overlooked often as a stakeholder group when it comes to assessing board performance. To gain insight into the factors that affect customer perceptions of non-profit board performance, over 20,000 members from 14 different professional, non-profit sporting clubs were surveyed. The results suggest that sporting club boards are evaluated primarily in line with perceptions specifically related to their administrative effectiveness, although the on-field performance of the team is a contributing and correlated factor. Board performance and on -field performance perceptions were both direct contributors to overall member satisfaction, with board performance being the stronger. Perceptions of board performance are clearly worth managing in a holistic manner.

Board involvement in strategy : advancing the governance of sport organizations

This study investigated how boards of national sport organizations might enhance their strategic capability. Utilizing an action research method and focusing on the case of New Zealand Football (soccer), findings established that greater board involvement in strategy advanced the board's ability to perform its strategic function. Further findings determined the importance of shared leadership between the board and the CEO, the complex interplay in balancing this relationship and the need to integrate strategy into board processes.

Board structure and firm performance : evidence from India's top 500 companies

The objective of this paper is to investigate the relationship between internal governance structures in Indian companies and financial performance. The
study includes an examination of aspects of the effectiveness of boards of directors', including composition of the board, board size and aspects of board leadership including duality and board busyness.

Board structure and firm performance : evidence from India's top companies

Manuscript Type: Empirical

Research Question/Issue: This paper investigates the relationship between internal governance structures and financial performance of Indian companies. The effectiveness of boards of directors, including board composition, board size, and aspects of board leadership including duality and board busyness are addressed in the Indian context using two theories of corporate governance: agency theory and resource dependency theory.

Research Findings/Insights: The study used a sample of top Indian companies taking into account the endogeneity of the relationships among corporate governance, corporate performance, and corporate capital structure. The study provides some support for aspects of agency theory as a greater proportion of outside directors on boards were associated with improved firm performance. The notion of separating leadership roles in a manner consistent with agency theory was not supported. For instance, the notion that powerful CEOs (duality role, CEO being the promoter, and CEO being the only board manager) have a detrimental effect on performance was not supported. There was some support for resource dependency theory. The findings suggest that larger board size has a positive impact on performance thus supporting the view that greater exposure to the external environment improves access to various resources and thus positively impacts on performance. The study however failed to support the resource dependency theory in terms of the association between frequency of board meetings and performance. Similarly the results showed that outside directors with multiple appointments appeared to have a negative effect on performance, suggesting that "busyness" did not add value in terms of networks and enhancement of resource accessibility.

Theoretical/Academic Implications: The two theories of corporate governance, namely agency and resource dependence theory, were each only partially supported, by the findings of this study. The findings add further to the view that no single theory explains the nexus between corporate governance and performance.

Practitioner/Policy Implications: This study demonstrates that corporate governance measures utilized in developed economies related to boards of directors have some synergies and relevance to emerging economies, such as India. However, the nature of business structures in India, for example the large number of family businesses, may limit the generalizability of the findings and signals the need for further investigation of these businesses. The evidence related to multiple appointments of directors suggests that there may be support for restricting the number of directorships held by any one individual in emerging economies, given that the "busyness" of directors was negatively associated with firm performance.

Mission fulfilment : the role of the non-profit arts board

This research explores the complexity of establishing mission fulfilment through the performance of non-profit arts boards (NP AB). Since the early 1990s, the non-profit literature has only sporadically focussed on the concept of how board performance contributes to mission fulfilment in the broader non-profit sector. Consequently, in both the empirical and normative literatures there is a dearth of understanding of how the nonprofit arts board performance fulfils the organisation's mission. The lack of exploration is problematic for theory development in contextualising non-profit arts board performance contribution to mission fulfilment. Although research has been undertaken in various areas-such as effective and ineffective board performance practices of non-profit organisations, board performance measurement indicators within the arts sector, and mission fulfilment as a result of non-profit organisational effectiveness-research from an extensive literature search did not reveal empirical evidence of the relationship between board performance and mission fulfilment of non-profit arts boards. Against this background, the research issue for the thesis is: How does board performance contribute to mission fulfilment by the non-profit arts organisation?

Board structure and survival of new economy IPO firms

Research Question/Issue: This study examines the relevance of currently accepted best practice recommendations regarding board structure on the survival likelihood of new economy initial public offering companies. We argue that industry context determines governance outcomes. Research Findings/Insights: We study 125 Australian new economy firms listed between 1994 and 2002. Each firm is tracked until the end of 2007 for monitoring their survival. We find that board independence is associated with an increase in the likelihood of corporate survival. We also find that the benefits of board independence increase at a decreasing rate. Theoretical/Academic Implications: The standard best practice recommendation of board independence stems from the monitoring role of directors and is based on agency theory. The results from our study suggest that the recommendation regarding board independence does not work well for new economy firms. While the agency theory based model implies a monotonic relation between board independence and performance, our research suggests that the relationship is nonlinear. This variation occurs because of increased monitoring costs faced by outsiders due to higher information asymmetry and complexity of new economy firms. Our empirical results suggest that inside directors play a complementary role to outsiders in mitigating firm failure. Practitioner/Policy Implications: Our research offers insights to policy makers who are interested in setting best practice standards regarding board structure. Our research suggests that firm/industry characteristics play a crucial role in determining the optimal board structure. In firms/industries where outsiders face significantly higher information processing costs, insiders can play a valuable complementary role to outsiders in enhancing the effectiveness of the board. Thus future hard or soft regulations related to board structure should consider industry context.

Family control, board independence and earnings management : evidence based on Hong Kong firms

In this study, we document that independent corporate boards of Hong Kong firms provide effective monitoring of earnings management, which suggests that despite differences in institutional environments, corporate board independence is important to ensure high-quality financial reporting. The findings also show that the monitoring effectiveness of corporate boards is moderated in family-controlled firms, either through ownership concentration or the presence of family members on corporate boards. The results based on firms reporting small earnings increases provide additional support for our finding that the monitoring effectiveness of independent corporate boards is moderated in family-controlled firms.