Outside Directorships, Firm Life Cycle, Corporate Financial Decisions and Firm Performance
We investigate whether directors with multiple outside board directorships are related to corporate financial strategy across firm life cycle stages. Using a large sample of firms from the Gulf Cooperation Council (GCC) countries, we find that when the number of directors with multiple board seats i...
| Main Authors: | , , , |
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| Other Authors: | |
| Format: | Journal Article |
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Elsevier
2021
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| Subjects: | |
| Online Access: | http://hdl.handle.net/20.500.11937/85094 |
| _version_ | 1848764715109449728 |
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| author | Alqahtani, Jubran Duong, Lien Taylor, Grantley Eulaiwi, Baban |
| author2 | Batten, Jonathan |
| author_facet | Batten, Jonathan Alqahtani, Jubran Duong, Lien Taylor, Grantley Eulaiwi, Baban |
| author_sort | Alqahtani, Jubran |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | We investigate whether directors with multiple outside board directorships are related to corporate financial strategy across firm life cycle stages. Using a large sample of firms from the Gulf Cooperation Council (GCC) countries, we find that when the number of directors with multiple board seats increases, firms' level of cash holdings rises, capital expenditure declines, selling, general and administrative (SG&A) expenses increase, and firm performance decreases. We further demonstrate how the relationship varies across different stages of their life cycle. Our findings have significant implications for policy makers, regulators and stockholders in GCC countries and in other emerging markets. |
| first_indexed | 2025-11-14T11:23:45Z |
| format | Journal Article |
| id | curtin-20.500.11937-85094 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T11:23:45Z |
| publishDate | 2021 |
| publisher | Elsevier |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-850942023-05-03T04:04:38Z Outside Directorships, Firm Life Cycle, Corporate Financial Decisions and Firm Performance Alqahtani, Jubran Duong, Lien Taylor, Grantley Eulaiwi, Baban Batten, Jonathan 1501 - Accounting, Auditing and Accountability We investigate whether directors with multiple outside board directorships are related to corporate financial strategy across firm life cycle stages. Using a large sample of firms from the Gulf Cooperation Council (GCC) countries, we find that when the number of directors with multiple board seats increases, firms' level of cash holdings rises, capital expenditure declines, selling, general and administrative (SG&A) expenses increase, and firm performance decreases. We further demonstrate how the relationship varies across different stages of their life cycle. Our findings have significant implications for policy makers, regulators and stockholders in GCC countries and in other emerging markets. 2021 Journal Article http://hdl.handle.net/20.500.11937/85094 10.1016/j.ememar.2021.100820 http://creativecommons.org/licenses/by-nc-nd/4.0/ Elsevier fulltext |
| spellingShingle | 1501 - Accounting, Auditing and Accountability Alqahtani, Jubran Duong, Lien Taylor, Grantley Eulaiwi, Baban Outside Directorships, Firm Life Cycle, Corporate Financial Decisions and Firm Performance |
| title | Outside Directorships, Firm Life Cycle, Corporate Financial Decisions and Firm Performance |
| title_full | Outside Directorships, Firm Life Cycle, Corporate Financial Decisions and Firm Performance |
| title_fullStr | Outside Directorships, Firm Life Cycle, Corporate Financial Decisions and Firm Performance |
| title_full_unstemmed | Outside Directorships, Firm Life Cycle, Corporate Financial Decisions and Firm Performance |
| title_short | Outside Directorships, Firm Life Cycle, Corporate Financial Decisions and Firm Performance |
| title_sort | outside directorships, firm life cycle, corporate financial decisions and firm performance |
| topic | 1501 - Accounting, Auditing and Accountability |
| url | http://hdl.handle.net/20.500.11937/85094 |