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This study aimed to investigate the impact of the board composition on financial performance in the restaurant industry from a stewardship theory perspective.

The composition of board was measured as the ratio of inside and outside directors. Firm performance was operationalized as return on assets (operational performance) and Tobin’s q (market-based performance). Panel regression analysis tested the research hypotheses.

Using data from 25 restaurant firms from 2007 to 2013, the study found an insignificant impact of board composition on operational performance. However, a higher proportion of inside board members increases market-based performance. A higher proportion of outside board members decreases market-based performance.

Supporting the basic tenets of stewardship theory, restaurant companies may consider changing the current practice of having a super-majority of outside directors and increase the inside board members. Because inside board member have greater experience with the organization and the industry, they have a better understanding of the status quo and are better able to respond to opportunities and threats in the environment.

Considering the scarcity of research on how the board composition affects firm performance in the hospitality context, the present study is a forerunner in its exploration of the impact of inside and outside directors on restaurant firms’ performance.

Proposes developing a conceptual model that can be used in understanding the relationships between sustaining structures that support the total quality service (TQS) philosophy and customer satisfaction.

Integrating the SERVQUAL instrument and other work in the service quality literature, especially the Deming management model, this paper develops a model for understanding the interactions between customer satisfaction and sustaining structures.

This conceptual paper develops three constructs: leadership, organizational culture and employee commitment, which are very important in achieving total quality service objectives. The proposed model links these three constructs with business processes and total quality service.

It is not an empirical investigation of customer satisfaction and sustaining structures. The paper does not review in detail the impact of the three constructs on business processes. A researcher who plans to do a customer satisfaction study could benefit from the proposed model as it will provide valuable insights about the interactions between customer satisfaction and sustaining structures.

This paper provides an important conceptual framework for evaluating the relationships between customer satisfaction and sustaining structures.

To measure the degree of implementation and satisfaction level with the outsourcing initiatives from higher education institutions.

Uses a survey questionnaire to measure the levels of satisfaction with the institutions’ services and the questionnaire was based on six factors that are deemed significant in making a privatization decision. It was tested for validity and was then e‐mailed to a total of 138 presidents and/or vice‐presidents of all private and public schools in the states of Maryland, North Carolina, and Virginia in the USA.

It was observed that the vast majority of institutions in all three states surveyed hold on to the concept of outsourcing according to their position in the system. The research shows that the possible motivations for outsourcing are cost savings and budgetary constraints, improvement of quality of services and staffing, lack of capability, safety concerns or liability of service, command from governing bodies, and pressure from peer institutions.

This is not an exhaustive survey of all private and public schools in the USA and it surveyed only the opinions of presidents and/or vice‐presidents of the selected schools. A case study may provide in‐depth analysis of outsourcing in institutions of higher education.

Focusing solely on surveys alone to determine the level of satisfaction of outsourcing in institutions of higher education can lead to false information.

Provides valuable empirical evidence in designing and implementation of outsourcing in institutions of higher education.

This paper aims to explore the relationship between board characteristics and firm performance for Indian companies.

Corporate governance structures of 391 Indian companies out of CNX 500 companies listed on National Stock Exchange have been studied for their impact on performance of companies. Panel data regression methodology has been used on data for five financial years from 2010 to 2014 for the selected companies. Performance measures considered are market-based measure (Tobin’s Q) and accounting-based measure (return on asset [ROA]).

The empirical findings indicate that the market-based measure (Tobin’s Q) is more impacted by corporate governance than the accounting-based measure (ROA). There is a significant positive association between board size and firm performance. Board independence is found significantly related to firm performance. Number of board meetings is found to be sending positive signal to the market creating firm value. Separation of chief executive officer and chairman of the board is found to be value-creating, and overburdened directors affect firm performance adversely.

Limitations of the study are in terms of methodology and possible omission of some variables. It is understood that the qualitative dynamics happening inside board meetings impact corporate performance. The strategic decision-making process adopted by the boards to fight competition or to increase market share is not easily available in public domain. The decision-making processes and monitoring for implementation of those decisions could impact corporate governance performance relationship. These parameters and their impact on corporate performance are not covered under the scope of the present study.

The paper adds to the emerging body of literature on corporate governance performance relationship in the Indian context by using a reasonably wider and newer data set.

The purpose of this paper is to explore the relationship of board characteristics and firm performance for Indian companies.

Corporate governance structures of 391 Indian companies out of CNX 500 companies listed on National Stock Exchange have been studied for their impact on performance of companies. Structural equation modeling methodology has been employed on data for five financial years from 2010 to 2014 for selected companies. Market-based measure (Tobin’s Q) and accounting-based measure (return on asset) have been employed for measuring firm performance.

Empirical findings indicate that there is significant positive association between board size and firm performance. Board independence is found significantly related to firm performance. Number of board meetings is found to be sending positive signal to the market creating firm value. Separation of CEO and chairman of the board is found to be value creating and overburdened directors affect firm performance adversely. Findings also suggest that the governance-performance relationship is also dependent upon the type of performance measures used in the study.

Limitations of this study are in terms of data methodology and possible omission of some variables. It is understood that the qualitative dynamics happening inside board meetings impact corporate performance. The strategic decisions-making process adopted by the boards to fight competition or to increase market share is not available in public domain easily. The decision-making processes and monitoring for implementation of these decisions could impact corporate governance-performance relationship. These parameters and their impact on corporate performance are not covered under the scope of the present study. However, the same could have thrown more light on governance-performance relationship.

The paper adds to the emerging body of literature on corporate governance-performance relationship in the Indian context using a reasonably wider and newer data set.

This paper aims to explore the relationship of promoter ownership and board structure with firm performance for Indian companies.

Corporate governance structures of 391 Indian companies out of CRISIL NSE Index (CNX) 500 companies listed on national stock exchange (NSE) have been studied for their impact on performance of companies. Panel data regression methodology has been used on data for five financial years from 2010 to 2014 for the selected companies. Performance measures considered are market-based measure (Tobin’s Q) and accounting-based measure (return on assets [ROA]).

The empirical findings indicate that market-based measure (Tobin’s Q) is more impacted by corporate governance than accounting-based measure. There is significant positive association between promoter ownership and firm performance. It is also indicated that the relationship between promoter ownership and firm performance is different at different levels of promoter ownership. Board size is found to be positively related to ROA; however, board independence is not found to be related to any of the performance measures.

Limitations of the study are in terms of data methodology and possible omission of some variables. It is felt that endogeneity and reverse causality might be better addressed using simultaneous equation methodology.

The paper adds to the emerging body of literature on corporate governance performance relationship in Indian context using a reasonably wider and newer data set.

Board size is an important dimension of corporate governance. The purpose of this study is to propose and test indirect effects of organization size on organizational performance via board size, in the context of industry.

The study’s predictions were tested in 288 medium and large organizations listed on the Australian Securities Exchange using archival data.

The findings of this study suggest the following: organization size is positively associated with board size and this relationship is stronger in manufacturing organizations; board size is positively associated with performance and this relationship is conditional on industry; and organization size has an indirect effect on performance via board size, and this indirect effect is also conditional on industry.

The results provide some support for the resource dependency theory, agency theory and contingency theory.

The findings suggest that directors should take into account the effects of board size and industry to provide a more precise assessment of the board’s performance.

It predicts and tests the pioneering moderating effect of industry (manufacturing vs services) on the organization size–board size, board size–organizational performance and organization size–board size–organizational performance relationships.

The purpose of this paper is to study the effect of Malaysian Code on Corporate Governance (MCCG, 2007 and 2012) on the performance of the listed companies in Malaysia. The agency theory and resource dependency theories indicate that the firms with strong corporate governance outperform firms with weaker governance. This paper explores this relationship in a developing country like Malaysia having different institutional environment compared to western countries.

The study used a sample of 113 listed companies in Malaysia. The study incorporates the endogenous relationship between corporate governance, firm performance and leverage.

The study analyzes how the corporate governance framework affected firm performance in Malaysia with the help of self-developed corporate governance index (MCGI). The authors’ findings show that the performance of the firm is positively and significantly related with corporate governance measured by MCGI. Secondly, corporate governance of sample firms shows marked improvements after implementation of MCCG 2012 as compared to MCCG 2007.

The findings of this paper support the agency and the resource dependency theories. The study contributes to the understanding of the relationship between the corporate governance and firm performance in emerging economy and builds a case for enforcement of strong corporate governance code by government agencies.

This study investigates the impact of board independence on firm risk of Vietnamese listed firms and the moderating effect of capital expenditure on this relationship.

This paper applies fixed effects and dynamic generalized method of moments (GMM) models to examine hypothesized associations between the proportion of nonexecutive directors and stock return volatility, as well as the moderating effect of capital expenditure. The robustness tests are implemented by applying alternative measures of overinvestment and firm risk.

The results show that the presence of nonexecutive directors on board increases firm risk. However, the combination of nonexecutive ratio and capital expenditure ratio has a significant negative impact on firm risk. The result is also confirmed by the difference between the monitoring role of nonexecutive directors in overinvesting and underinvesting firms.

The results imply that Vietnamese listed firms take stock return volatility into consideration before nominating and appointing nonexecutive directors into their board, especially in overinvesting firms. From another perspective, the shift toward having a majority of nonexecutive directors on boards can play a significant role in pursuing a stable or risky business strategy.

This paper investigates the influences of nonexecutive directors on firm risk in the context of Vietnam.