BOARD CONFIGURATION AND PERFORMANCE IN GREECE: AN EMPIRICAL INVESTIGATION

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Abstract

This study is an attempt to shed light on board configuration-board size, leadership structure, CEO dependence/independence alongside with firm’s performance relying on financial ratios, namely ROE, ROCE and profit margin. Data were gathered from annual reports and proxy statement of 316 Greek organisations quoted in the Athens Stock Exchange, shortly after the financial crisis of 1999. This period the Greek Capital market was upgraded to a mature market status. Findings from this research suggest that neither board leadership structure nor CEO dependence/independence showed any significant effects on firm’s financial performance.

Keywords: Corporate Board, Board Size, Composition, Firm Performance

How to cite this paper: Koufopoulos, D. N., & Balta, M.-E. N. (2006). Board configuration and performance in Greece: An empirical investigation. Corporate Ownership & Control, 3(4), 9-23. https://doi.org/10.22495/cocv3i4p1