Board Committees and Corporate Performance in Russia: Research Presentation on International Conference
The effects of corporate governance characteristics on financial and non-financial indicators of corporate performance have been widely considered in academic literature. Many papers focus on the characteristics of Board of directors as a superior governance structure responsible for monitoring of top-management and making strategic decisions. However, most of studies consider the characteristics of Board as a whole, while few of them pay attention to the effects of Board committees’ composition. The researchers of Corporate Finance Center – Elena Makeeva and Konstantin Popov – aim to address this issue.
The study devoted to the impact of human capital of members of Board audit, strategy, sustainability committees on Tobin’s Q and ESG ratings of Russian public companies was presented on 44th Eurasia Business and Economics Society Conference, which took place from 6th to 8th of July of 2023 in Istanbul. Authors found positive effects of higher diversity of education and professional experience among Board committees’ members on both Tobin’s Q and corporate ESG rating of Russian companies provided by RAEX Europe agency. At the same time, higher level of CEO power deters positive effects of some parameters of Board committees’ human capital, including education level diversity, members’ experience in finance, in technical field, and in state services.
This research, previously presented on the seminar of Corporate Finance Center, was commented by discussants – Nihal Bayraktar (PhD, Professor of Economics, Pennsylvania State University, USA) and Wael Kortam (Professor of Marketing, Head of Department of Business Administration, Cairo University, Egypt). These comments will be taken into account while preparing publications basing on obtained results.