Please use this identifier to cite or link to this item: https://hdl.handle.net/10356/146665
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dc.contributor.authorLee, Kin-Waien_US
dc.contributor.authorLok, Char-Leeen_US
dc.date.accessioned2021-03-04T06:52:23Z-
dc.date.available2021-03-04T06:52:23Z-
dc.date.issued2020-
dc.identifier.citationLee, K.-W., Lok, C.-L. (2020). Busy boards, firm performance and operating risk. Asian Academy of Management Journal of Accounting and Finance, 16(2), 1-23. doi:10.21315/aamjaf2020.16.2.1en_US
dc.identifier.issn1823-4992en_US
dc.identifier.urihttps://hdl.handle.net/10356/146665-
dc.description.abstractUsing a sample of listed firms in Malaysia, Philippines, Singapore and Thailand, this paper examines the association between busy board of directors and firm performance. We offer three results. First, we find that firm performance (measured by operating profitability and market-to-book equity) is negatively associated with busy boards. Second, we find that firms with busy boards have higher operating risk (measured by volatility of return on assets, volatility of stock returns and volatility of operating cash flow). Third, we find that the association between firm performance and busy boards is conditional on the firm’s life cycle stage. For firms in the growth stage, busy boards are beneficial to firm performance suggesting that the experience knowledge and reputation accumulated with multiple directorships help busy directors to more effectively advise these firms. In contrast, for firms in the maturity stage of their life cycle, busy boards are detrimental to firm performance suggesting the monitoring role of board is weakened by multiple directorships.en_US
dc.language.isoenen_US
dc.relation.ispartofAsian Academy of Management Journal of Accounting and Financeen_US
dc.rights© 2020 Asian Academy of Management and Penerbit Universiti Sains Malaysia. This work is licensed under the terms of the Creative Commons Attribution (CC BY) (http://creativecommons.org/licenses/by/4.0/).en_US
dc.subjectBusiness::Accountingen_US
dc.titleBusy boards, firm performance and operating risken_US
dc.typeJournal Articleen
dc.contributor.schoolCollege of Business (Nanyang Business School)en_US
dc.identifier.doi10.21315/aamjaf2020.16.2.1-
dc.description.versionPublished versionen_US
dc.identifier.scopus2-s2.0-85098970267-
dc.identifier.issue2en_US
dc.identifier.volume16en_US
dc.identifier.spage1en_US
dc.identifier.epage23en_US
dc.subject.keywordsBoard Businessen_US
dc.subject.keywordsFirm Performanceen_US
item.grantfulltextopen-
item.fulltextWith Fulltext-
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