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Board of director attributes: effects on financial performance in SMEs

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Board of director attributes: effects on financial performance in SMEs

dc.contributor.author	Roffia, Paolo
dc.contributor.author	Simón Moya, Virginia
dc.contributor.author	Sendra García, Javier
dc.date.accessioned	2023-06-15T07:58:33Z
dc.date.available	2023-06-16T04:45:06Z
dc.date.issued	2022	es_ES
dc.identifier.citation	Roffia, P., Simón Moya, V. y Sendra García, J. (2022). Board of director attributes: effects on financial performance in SMEs. International Entrepreneurship Management Journal, 18, 1141–1172.	es_ES
dc.identifier.uri	https://hdl.handle.net/10550/87914
dc.description.abstract	This paper analyses the relationship between board of director (BoD) attributes and financial performance in small and medium-sized enterprises (SMEs). Although SMEs are the backbone of world economies, most studies on this relationship focused on large companies and did not consider many typical or recommended processes and activities carried out by SME BoDs. We monitored a set of variables related to BoD attributes such as composition, characteristics, structure and processes for 184 Italian SMEs along with their financials over a 4-year period (2014–2017). We controlled for enterprise-specific characteristics such as annual sales growth, assets value, sales turnover, leverage, com pany size (employees), firm age, generational changes, director ownership and familiness. Using an ordinary least squares (OLS) regression model with time-period and industry-fixed effects on financial performance data, we found a significant correla tion between certain BoD attributes and financial performance. In particular, in our model, BoD members’ adequate competences and skills, presence of committees or individual delegates within the BoD, adequate and timely-furnished documentation before BoD meetings, monitoring of conflicts of interest of BoD members, BoD risk analysis and management, BoD member performance-based remuneration, and disclo sure to stakeholders influenced the ROA ratio, used as a proxy for financial performance. Our findings support the importance of the BoD and its attributes in influencing the financial performance of SMEs. BoDs are proven unique resources for companies.	es_ES
dc.language.iso	en	es_ES
dc.publisher	Springer	es_ES
dc.subject	ROA ratio,	es_ES
dc.subject	SMEs,	es_ES
dc.subject	board of directors	es_ES
dc.subject	boDattributes	es_ES
dc.subject	financial performance	es_ES
dc.subject	family firm	es_ES
dc.subject	agency theory	es_ES
dc.subject	resource based view	es_ES
dc.title	Board of director attributes: effects on financial performance in SMEs	es_ES
dc.type	journal article	es_ES
dc.subject.unesco	UNESCO::CIENCIAS JURÍDICAS Y DERECHO	es_ES
dc.identifier.doi	10.1007/s11365-020-00715-5	es_ES
dc.accrualmethod	S	es_ES
dc.embargo.terms	0 days	es_ES
dc.type.hasVersion	VoR	es_ES
dc.rights.accessRights	open access	es_ES