Board director disciplinary and cognitive influence on corporate value creation

Nadia Ben Farhat Toumi (1) , Ramzi Benkraiem (2) , Amal Hamrouni (3)

1 UNS - Université Nice Sophia Antipolis (1965 - 2019)
2 Audencia Business School
3 La Rochelle Business School

Purpose – This paper aims to investigate board director disciplinary and cognitive influence on corporate value creation. Design/methodology/approach – Fixed-effect regressions are used to check whether gender diversity, education, independence and size of the board of directors affect measures of corporate value creation. Findings – The empirical results show that corporate value creation is positively influenced by the cross effect of the board independence and the presence of women. They also point out a positive impact of the cross effect of board independence and management education. They reveal that the board of directors contributes significantly to corporate value creation, particularly when there is a mix of independent, female and management-qualified directors. Originality/value – The evidence presented and discussed in this paper should be of interest to managers and regulators. The methodological approach and the empirical results extend the existing literature. They enrich the limited empirical research devoted to this theme, especially in a continental European context, i.e. France. They shed light on the effect of board of directors’ disciplinary and cognitive influence on corporate value creation.

Mots clés: Board of directors; Corporate governance

Domaines: Gestion et management; Finance [q-fin.GN]; Economies et finances

Nadia Ben Farhat Toumi, Ramzi Benkraiem, Amal Hamrouni. Board director disciplinary and cognitive influence on corporate value creation. Corporate Governance: The international journal of business in society, 2016, 16 (3), pp.564-578. ⟨10.1108/CG-09-2015-0123⟩. ⟨hal-01363698⟩