Exploring Why Organisations Differ in Board Configuration: Do Organisations’ Age, Size and their Years Being Public Matter? Findings from Greek Listed Manufacturing Organisations

Ioannis Gkliatis, Konstantinos Athanasiadis, Dimitrios Koufopoulos, Eleftheria Florou

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In this paper building upon several theories (agency theory, stakeholder theory and resource dependence theory) and by utilising data from 161 Greek manufacturing companies that were listed in the Athens Stock Exchange on the 31st December 2008, we explore the relationships between the organisational characteristics of the firms (organisational age, organisational size and years listed in the stock market) and the Board configuration (board size, board leadership structure and directors’ dependence/independence). Both descriptive and inferential statistics (ANOVA tests) were utilised to answer the research questions. Interestingly and in alignment with the literature, the findings showed that larger organizations tend to have larger boards and greater proportions of external and independent directors. However, no more strong relationships have been identified between the organisational characteristics and the board configuration. Finally, it is worth mentioning that this study examines the listed Greek manufacturing companies during very turbulent times, the start of the financial crisis in Greece, which may have an impact on the configuration of the boards at that time.
Original languageEnglish
Title of host publicationExploring Why Organisations Differ in Board Configuration: Do Organisations’ Age, Size and their Years Being Public Matter? Findings from Greek Listed Manufacturing Organisations
PublisherBritish Academy of Management (BAM)
Number of pages23
ISBN (Print)978-0-9956413-2-7
Publication statusPublished - 5 Sept 2019
EventBritish Academy of Management Conference 2019 - Aston University, Birmingham, United Kingdom
Duration: 3 Sept 20195 Sept 2019


ConferenceBritish Academy of Management Conference 2019
Abbreviated titleBAM2019
Country/TerritoryUnited Kingdom
OtherGlobal developments over the past decade have made the world of business and organisations increasingly uncertain and challenging, yet still offer opportunities for those able to innovate and tap evolving niche areas. Core contributory factors responsible for this include the last financial crisis, developments in the Arab world leading to mass migration, Brexit, and the rapidly changing policies of the USA since the election of President Trump. These are compounded by both human-created developments, such as artificial intelligence and social inequality and unrest, and nature-created disasters such as catastrophic floods, storms and forest fires. All this has not only created a major challenge to successful provision of basic amenities to a rapidly growing global population, but also for organisations and institutions to develop new skills needed to work with technological advancements. As a result, there is a pressing need to push for the sustainability agenda on all fronts, and to support entrepreneurship and growth and development of SMEs.

Such turbulent business conditions demand that organizations innovate to improve products, services and processes rather than simply pursue cost reduction. They also demand improved levels of corporate governance, employee engagement, well-being and enlightened staff management practices. Meeting such challenges effectively is all the more important in these times.

Creating and sustaining high performance is the aim of all leaders and managers who are ambitious for their organisations. However, we have seen widespread damage inflicted on economies and individual lives in both organisations and nations by unbridled ambition and poor governance in senior leaders. There is an urgent need for the recognition of leadership that supports core human values of justice, humanity, empathy and care for the environments we are privileged to inhabit. How can high performance be achieved in the context of such values being at the heart of business practice?

Aston Business School has an established track record of helping organisations, businesses, and entrepreneurs to both build and sustain high performance as shown by the contributions of its leading scholars in research centres including enterprise, servitization and retail, and via the training provided to numerous and diverse clients. The 2019 conference theme also builds upon the significant regeneration taking place in the city of Birmingham to realize its full economic potential.

BAM2019 will create a platform for researchers seeking solutions in uncertain times and will offer a rich source of knowledge and an opportunity to find alternatives to the status quo in our understanding of management, performance, organisations and the nature of the challenges we face.
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