Document Type
Article
Digital Object Identifier (DOI)
10.1111/corg.70002
Journal Title
Corporate Governance: An International Review
Publication Date
2025
Abstract
The impact of board structures on firm performance remains a contentious governance topic with competing theoretical paradigms and inconclusive empirical support. Scholars propose that national culture could reconcile contradictory evidence; yet, argumentation is fragmented and direct tests are rare. We meta-analyzed 513 samples across 54 countries to examine relationships between board structures (i.e., board size, board independence, and CEO duality) and firm performance. We model national culture, using Hofstede's six cultural dimensions, as moderators to test whether these relationships align with agency or stewardship theory across different cultural settings.
Publisher Statement
This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.
Recommended Citation
Farrell, M., Willis, C. H., Siangchokyoo, N., Klinger, R. L., Kreugel, J., Usta, H., Tian, T. R., Thaviphoke, Y., & Wilson, S. (2025). Board attributes, firm performance, and the moderating role of national culture: A meta‐analysis. Corporate Governance: An International Review. https://doi.org/10.1111/corg.70002
Included in
Business Administration, Management, and Operations Commons, Management Sciences and Quantitative Methods Commons
Comments
The definitive article is available on the journal's website: https://doi.org/10.1111/corg.70002.