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The purpose of this paper is to identify the board attributes that significantly increase firm risk. The study aims to find whether board size, percentage of non-executive directors, women on the board, a powerful chief executive officer, equity ownership amongst executive board directors and institutional investor ownership are associated with firm risk. This is the first study that examines which board attributes increase firm risk using a UK-based sample.

This empirical study collected secondary data from Bloomberg and Morningstar databases. The data sample is an unbalanced panel of 260 companies’ secondary data on FTSE 350 index in the UK, from 2005 to 2010. The data were statistically analysed using STATA.

The study establishes the board attributes that were significantly related to firm risk. The results show that a board which can increase firm risk is one that is small in size, has high equity ownership amongst executive board directors and has high institutional investor ownership.

The governance culture and regulatory system in the UK is different from other countries. As the data are a UK-based sample, the results can lack generalisability.

The results are useful for investors who invest in large firms, to have the knowledge about the board attributes that can increase firm risk. Regulators can also use the results to strengthen regulatory guidelines.

This study fills the gap in knowledge in UK governance literature on the board attributes that can increase firm risk.

The aim of this paper is threefold: to identify the combinations of national culture dimensions that lead to high (or low) entrepreneurial activity (EA) for men and women, to understand the role of economic development as a relevant condition that combines with national culture dimensions to achieve high (or low) male or female EA and to identify the differences between the configurations that lead to those outcomes.

Using data from the Global Entrepreneurship Monitor (GEM) and from the Hofstede Centre for 77 countries, this study uses a fuzzy-set qualitative comparative analysis (fsQCA) to explore complex causal relations between national culture dimensions, the level of economic development (conditions) and the male and female EA (outcomes).

This research provides three major insights. First, it is not possible to talk about a single culture that promotes entrepreneurship, but instead in several entrepreneurial cultures. This is particularly interesting when distinguishing between genders, because there are configurations that are specific to one of the genders. Second, different levels of economic development (high/low) combine with national culture dimensions to produce different configurations that can lead to high EA. Third, differences found between the solutions for both genders are higher in the case of the configurations that lead to high EA than in the ones that lead to low EA.

These results are very important to governments and policy makers with the objective of stimulating the EA within their specific countries. When designing public policies to promote entrepreneurship, they should take into consideration the specific cultural context of the country. The cultural context of each country presents multiple dimensions; therefore, the design of public policies should not rely on single, occasional and unarticulated policies. There are countries where the cultural context only promotes EA for males or females. In those cases, the public policies should differentiate between men and women, to be equally effective.

By using a configurational approach, this study identifies several configurations of national culture dimensions and the level of economic development that lead to the same outcomes: high (or low) EA. Some of the configurations are specific to achieving only male or female EA (high or low).

Since joint venture experience obtained from inward FDI may create a positive or negative impact on ownership mode choice, it is difficult to predict its direct impact. The purpose of this paper is to combine the organizational learning and agency perspectives to find whether CEO power can moderate the effect of inward joint venture experience.

Using a sample of 337 foreign entries conducted by 77 Chinese firms during 1998-2008, this study has tested some interaction effects of inward joint venture experience and CEO power measures.

The author finds that inward joint venture experience interacts with CEO ownership and CEO duality, respectively, to have a negative impact on the selection of high-equity mode.

This study contributes to entry mode literature by finding that inward (but not merely outward) FDI experience can influence entry mode choices and by combining agency theory and the organizational learning perspective to solve the theoretical conflicts created by the two opposite effects of a FDI experience.

This study examines whether CEO power influences the book-based and market-based performance of Russian companies when it is restricted by the presence of essential shareholders, namely, state and influential businessmen.

Managerial power is divided into structural, ownership, expert and prestige. The proposed power metrics include not only CEOs but also the board of directors' characteristics that may restrict or enhance CEO power. The empirical analysis is based on the sample of 90 large traded Russian firms, which shares are included in the Moscow Stock Exchange Broad Market Index (MICEX BMI), observed from 2012 to 2019.

Panel data analysis suggests that higher board ownership and tenure may restrict CEO power, which in turn would be beneficial for corporate performance. the authors also see that in companies owned by influential businessmen, CEO power influence on M/B value is more negative, while state ownership does not moderate it. CEO power metrics, based on political experience and tenure, affect corporate performance differently in companies affiliated with extractive industries.

First, the authors consider two channels through which a company in emerging markets may get additional resources: CEOs and influential owners. Second, the authors develop power metrics based on Finkelstein's managerial power classification (1992) and the idea of relative power proposed by Bebchuk et al. (2011). It allows identifying whether the board of directors' may constrain or enhance CEO power to raise corporate performance. Third, the authors analyze developing Russian markets that represent a good ground for testing the question, whereas empirical research on Russia is relatively scarce (Grosman and Leiponen, 2018). Fourth, the authors pay particular attention to the CEO power in the extractive industry, strategically important for the Russian economy.

本研究擬探討行政總裁的權力，若因有不可或缺的股東 - 即國家和具影響力的實業家 - 的存在而受到約束時，其權力會否影響俄羅斯公司以賬簿為基礎和以市場為基礎的表現

管理權分為結構性的、所有權的、專家的和聲望的。提出的權力指標不但包括行政總裁，也涵蓋或會限制或增加行政總裁權力的董事會特徵。本研究的實證分析法是基於90間股份被納入莫斯科股票交易廣泛市場指數的大型俄羅斯上市公司樣本，觀察期由2012年至2019年

面板數據分析顯示、較高的董事會所有權和較長的任期或會限制行政總裁的權力，這因此有利於提升企業績效。我們亦看到，在具影響力的企業家擁有的公司裡，行政總裁權力對市價淨值的影響是較負面的，而國有制沒有把它減低。就隸屬採掘業的公司而言，基於政治經驗和任期的行政總裁權力指標，會對企業績效帶來不同的影響

(一) 我們考慮在新興市場公司可取得額外資源的兩個途徑：行政總裁和具影響力的所有者。(二) 我們基於芬克爾斯坦 (Finkelstein, 1992) 的管理權分類，以及 Bebchuk et al. (2011) 所提出相對功率的學說，建立了權力指標。憑著這權力指標，我們可鑑定董事會會限制、抑或增強行政總裁提升企業績效的權力。(三) 我們分析發展中的俄羅斯市場，其為測試我們問題的良好地方，而探討俄羅斯的實證研究較為稀有 (Grosman and Leiponen, 2018) 。(四) 我們特別關注在採掘業的行政總裁權力，而採掘業對俄羅斯經濟來說、是具有重要戰略意義的

This chapter investigates the role of gender, mentoring and social capital and contributes to literature about the career development of women in senior management roles in the National Health Service of the UK. It draws on a doctoral study of senior-level managers in a Scottish NHS Board. The data collected are: (i) documentary; (ii) quantitative; and (iii) qualitative. The quantitative data are collected through questionnaires, while the source of qualitative data is in-depth semi-structured interviews. The doctoral study is embedded within an interpretivist and feminist paradigm. Although access to mentoring and social capital was seen as likely to enhance the career progression of females to senior managerial roles, gendered work and family expectations, gendered organisational culture, and normative performances of gendered senior management were identified as obstacles in taking advantages of mentoring and social capital. To the best of our knowledge, this is the only piece of work that explicitly investigates the role of mentoring and social capital in managing gender diversity at the senior managerial positions of the NHS.

The board structure (BS) is pivotal in modern corporate governance (CG). This study aims to investigate BS variables (BSIZE, BIND and chief executive officer [CEO] duality) and their correlation with risk-taking behavior indicators, enriching the understanding of how CG shapes financial institutions’ (FIs) decision-making in Pakistan.

By scrutinizing data from 67 financial entities listed on the Stock Exchange of Pakistan spanning from 2011 to 2022 through panel data regression techniques, the research emphasizes that BS holds a substantial influence over the risk tendencies exhibited by these firms.

Key findings suggest that board size has a positive influence, aligned with previous CG research. Smaller boards perform better and avoid excessive risk-taking, contrasting some negative relationship claims. More independent directors are recommended to curtail risk and financial disruption. Holding both CEO and chair roles reduces risk exposure, resonating with reputational and employment risk theory. It is essential to recognize that BS’s impact on risk-taking is nuanced and context-dependent.

Policymakers, scholars, practitioners and investors working in the market for financial companies might greatly benefit from the empirical findings of this study. Imposing mandates on FIs to uphold adequate capital reserves functions as a safeguard against unforeseen losses, thereby diminishing the probability of unwarranted risk-taking.

Prior studies in this domain predominantly focus on nonfinancial sectors. In addition, existing research often explores the relationship between BS and firm risk-taking solely within the banking sector, overlooking other FIs. This study contributes by using a comprehensive data set encompassing all types of FIs, thus extending the existing literature.

With boards of directors playing both monitoring and guidance roles, the purpose of this paper is to examine the impact of board structure on firm value in large US and UK firms using the lenses of agency and resource dependence theories.

Using a sample of firms in the USA and the UK from 2000 to 2007, the paper conducts a panel data analysis of the impact of board structure on firm value and examine the nuances of different governance environments.

The paper finds distinct differences in the impact of board independence, board size, and outside director busyness on firm value between UK and US firms. Specifically, the paper finds that board independence, board size, and board busyness all have a significant positive impact on firm value in the UK. However, the paper finds no significant relationship between board independence and firm value among US firms. Both board size and board busyness are found to be positively associated with firm value in the USA.

The paper finds strong support for resource dependence theory in the UK but limited support for agency theory in the USA.

This paper takes a multi-country approach to examining the impact of board structure on firm value.

This study aims to explore the relationship between board governance structure and firm risk. In particular, this study develops a “governance index” based on four aspects of the board: board composition, board leadership structure, board member characteristics and board processes, and it examines how the overall index relates to firm risk.

The study is conducted using a sample of 268 UK firms from the FTSE 350 index over the period from 2005 to 2010. An index is constructed to capture the overall governance structure of the firm. Regressions of the index on three risk measures are examined.

This study finds that the governance index that aggregates the four sets of board attributes is significantly and negatively related to firm risk. Robustness tests confirm this result.

A large number of studies have explored the relationship between the attributes of corporate boards and firm performance with mixed results. A much smaller number of studies have looked at board attributes and firm risk, but these have either focused on financial sector firms alone or have included only a single or a limited number of attributes. This study, using a broad agency framework, seeks to extend the work on firm risk and board attributes by both expanding industry sectors examined and using a comprehensive set of board attributes.

The findings have policy and practical implications for investors, regulators and chairmen of boards of governors to the extent that they inform these constituencies about the set of board attributes that are associated with firm risk. This study is the first to use a comprehensive measure of governance and relate it to firm risk.

Informed by the role congruity theory of prejudice towards female leaders, this paper aims to review the literature on gender and leadership to consolidate existing theory development, stimulate new thinking and provide a framework for future empirical studies. It offers a theoretical framework to understand what may prevent or facilitate the emergence of female leaders.

The paper reviews and synthesises recent research on the linkages between gender and leadership.

The review extends Eagly and Karau’s (2002) role congruity theory by identifying additional constructs that may alleviate negative prejudicial evaluations and offering new insights into the potential alignment between feminine traits and leadership success.

The theoretical framework that emerged in this paper may be used as a heuristic model to contextually examine the lack of female leaders.

The paper proposes a theoretical framework to understand issues related to the emergence of female leaders. It offers news insights into possible alignment in female-leader role stereotypes that may address prejudicial evaluations against female leaders.

The purpose of this study is to advance knowledge on the gender-specific conditions that lead to higher entrepreneurial activity (EA) in challenging contexts by examining the interdependencies between several cognitive dimensions (perceived opportunities, perceived capabilities, being undeterred by fear of failure, knowing an entrepreneur who started a business because of the pandemic) and one cultural dimension (masculinity) and their relationship with EA of women and men during the COVID-19 pandemic.

Using data from the Global Entrepreneurship Monitor’s special report “Women’s Entrepreneurship 2020/21: Thriving Through Crisis” for 43 countries, this study uses fuzzy-set qualitative comparative analysis to assess complex causal conditions.

Results revealed six different causal configurations leading to high female EA and the same number leading to high male EA during the COVID-19 pandemic. Although half of these configurations are gender specific, this study found several similarities in the complex conditions leading to the same outcome for women and men. The specific dimensions of perceived opportunities and knowing an entrepreneur who started a business because of the pandemic were crucial for both genders. Still, the latter is particularly important for women. Masculinity orientation was only relevant in the male sample.

Despite the remarkable growth of the research on gender and entrepreneurship over the past years, there is still limited knowledge on what leads to women and men’s EA in times of crisis. This study's results advance the understanding of gender differences and similarities regarding the complex conditions that favour EA under highly challenging circumstances such as the ones imposed by the COVID-19 pandemic crisis.