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March 2004, Volume 3, Number 1, Pages 105-125
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Article
Effects of Board Structure on Firm Performance: A Comparison Between Japan and Australia
Ingrid Bonna, Toru Yoshikawab and Phillip H Phanc

aGraduate School of Management, Griffith University, PMB 50 Gold Coast Mail Centre, Queensland 9726, Australia. E-mail: I.Bonn@griffith.edu.au

bSchool of Business, Singapore Management University, 469 Bukit Timah Road, Singapore 259756, Singapore. E-mail: toru@smu.edu.sg

cLally School of Management and Technology, Rensselaer Polytechnic Institute, 1108th St., Troy, New York 12180-3590, NY, USA. E-mail: pphan@rpi.edu

Abstract

This article compares the effects of board size, proportion of female directors, proportion of outside directors and average age of directors on firm performance in Japanese and Australian firms. We found that board size and age of directors were negatively associated with the performance of Japanese firms. For Australian firms, outsider ratio and female director ratio were positively associated with performance.

Asian Business & Management (2004) 3, 105-125. doi:10.1057/palgrave.abm.9200068

Keywords

corporate governance; board structure; firm performance; Japan; Australia

Received 8 November 2002; revised 17 September 2003; accepted 30 October 2003
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