On the relationship between characteristics of the board of directors and firm value

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  • 取締役会の属性と企業価値の関係について
  • トリシマリヤクカイ ノ ゾクセイ ト キギョウ カチ ノ カンケイ ニ ツイテ

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In this paper, I analyze that the relationship between characteristics of the board of directors and firm value. I find inverse association between board size and firm value, and also between age of directors and firm value. The results are robust to numerous controls, and this means companies with younger directors exhibit higher fiancial performance.

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