Determinants of Board Members Financial Expertise - Empirical Evidence from France - Archive ouverte HAL Access content directly
Journal Articles International Journal of Accounting Year : 2009

Determinants of Board Members Financial Expertise - Empirical Evidence from France

(1) , (1)
1

Abstract

Very few countries require directors to be financially literate. This article investigates the determinants of boards' financial expertise using a sample of 95 non-financial French listed firms. We construct a measure of financial expertise based on educational and career background data for 943 individuals occupying 1,140 posts in our sample and explore the determinants of average per-firm financial expertise using a Tobit analysis. We find that average financial expertise is negatively associated with board type (two-tier versus one-tier) and growth opportunities and positively associated with board independence, ownership concentration, and institutional ownership. These findings are robust to sensitivity analyses.
Not file

Dates and versions

hal-00493177 , version 1 (18-06-2010)

Identifiers

Cite

Thomas Jeanjean, H. Stolowy. Determinants of Board Members Financial Expertise - Empirical Evidence from France. International Journal of Accounting, 2009, Vol.44,nº4, pp.378-402. ⟨10.1016/j.intacc.2009.09.002⟩. ⟨hal-00493177⟩

Collections

HEC CNRS
52 View
0 Download

Altmetric

Share

Gmail Facebook Twitter LinkedIn More