Waseda Organizational and Financial Economics Seminar:
” Does Board Independence Influence Financial Performance in IPO Firms? The Moderating Role of the National Business System. ” (June 5)
講演者 / Speaker
Alessandro ZATTONI 
（ Professor, Department of Business and Management, LUISS University, Italy）
日 時 / Date & Time
Monday, 5 June 2017, 13:00 – 14:30
会 場 / Venue
Rm. 1109 on the 11th floor, Building #11, Waseda University
主 旨 / Outline
” Does Board Independence Influence Financial Performance in IPO Firms? The Moderating Role of the National Business System. ”
Prior evidence suggests that board independence may enhance financial performance, but this relationship has been tested almost exclusively for Anglo-American countries.
To explore the boundary conditions of this prominent governance mechanism, we examine the impact of the formal and information institutions of 18 national business systems (Whitley, 1999) on the board independence-financial performance relationship.
Our results show that while the direct effect of independence is weak, national-level institutions significantly moderate the independence-performance relationship.
Our findings suggest that the efficacy of board structures is likely to be contingent on the specific national context, but the type of legal system is insignificant.
プログラム / Schedule
13：00 Opening Remarks （Hideaki Miyajima (Waseda University)）
13：05 Presentation
14：05 Question-and-answer session
14：25 Concluding Remarks（Hideaki Miyajima (Waseda University)）
対 象 / Prospected Audience
Faculty and staff members of a university, grad students, the general publics
主 催 / Organizer
Research Institute of Business Administration,Waseda University
Waseda Institute for Advanced Study,Waseda University
申込み / Registration
Free of charge. Please come to the event venue directly.
