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Does CEO Duality and Family Ownership Concentration Hinder the Effectiveness of the Corporate Board of Directors in Jordanian Service Firms?

机译:CEO二重性和家族所有权集中度是否会妨碍约旦服务公司中公司董事会的效力?

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The purpose of this paper is to investigate the effects of CEO duality and family ownership concentration on the effectiveness of the board of directors in a sample of Jordanian services firms. This study used a sample of 67 services firms listed on the Amman Stock Exchange (ASE) over the four years from 2013 to 2016 (N - 268 firms). A composite proxy for board effectiveness ranging from 0 to 3 using board size, board independence and the frequency of board meeting was utilized. The results indicate that the combined role of CEO and the chairman of the board and a high level of family ownership concentration weakens board effectiveness, which, in turn, hinders the monitoring function of corporate boards. This study contributes to the current literature related to the corporate governance structure in emerging capital markets like Jordan in proposing a model that may ensure the effective monitoring function of corporate boards.
机译:本文的目的是调查约旦服务公司样本中首席执行官二重性和家族所有权集中度对董事会有效性的影响。这项研究使用了2013年至2016年这四年中在安曼证券交易所(ASE)上市的67家服务公司的样本(N-268家公司)。利用董事会规模,董事会独立性和董事会会议频率,使用0到3的董事会效力综合代理。结果表明,首席执行官兼董事长的共同作用以及高度的家族所有权集中度削弱了董事会的有效性,进而阻碍了公司董事会的监督职能。这项研究为像乔丹这样的新兴资本市场中与公司治理结构有关的最新文献做出了贡献,提出了一种可以确保公司董事会有效监督职能的模型。

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