- Title
- Independent directors : Experience and value in contrasting economic contexts
- Creator
- Wells, Philippa; Moyeen, Abdul; Ingley, Coral
- Date
- 2016
- Type
- Text; Conference paper
- Identifier
- http://researchonline.federation.edu.au/vital/access/HandleResolver/1959.17/160854
- Identifier
- vital:12359
- Abstract
- The OECD Principles of Corporate Governance embed an emphasis on independent directors as a mechanism for encouraging broad expertise, experience and diversity on boards. This principle has become de rigueur for large public companies in many developed economies, including Australia although tending to be reflected in listing requirements rather than in law, and leaving it to the companies to determine whether appointees meet the criteria of independence. Emerging economies have been less likely to adopt such requirements but it is now apparent that at least some are moving to do so. Research suggests that unlike developed countries, there is an insignificant relationship between independent directors and financial performance of large businesses in developing countries such as Bangladesh. This raises interesting questions: do the differences in performance reflect differences in understanding and expectations of the role, appointment and participation of such directors? This paper is an attempt to explore and answer these questions via a comparison between the Australian and Bangladeshi approaches. Findings in both locations are inconsistent and, it appears, requirements and guidelines for independent directors' appointment tend to be in reaction to specific issues and ideologies.
- Publisher
- Academic Conferences Limited
- Relation
- Proceedings of the 4th International Conference on Management, Leadership and Governance, ICMLG 2016 p. 383-390
- Rights
- This metadata is freely available under a CCO license
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