Rendimiento financiero de la empresa: ¿Importa el tamaño del consejo de administración? Caso del índice EUROSTOXX50

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Publicado 18-09-2018
Mercedes Rodríguez Fernández

Resumen

Este estudio analiza la relación entre el tamaño del consejo de administración y el rendimiento económico-financiero de una muestra de empresas europeas que componen el EUROSTOXX50. Revisando trabajos anterio­res en la materia y teniendo en cuenta además de la teoría de dependencia de recursos y la teoría de la agencia, la regulación que se ha desarrollado desde la OCDE, la Unión Europea, y la relativa al gobierno corporativo de cada país de la muestra, los autores proponen la existencia de una relación positiva entre las dos ideas investiga­das. Tomando en consideración el número de consejeros y varias medidas del rendimiento económico-financiero (ROA, ROE y Q de Tobin), se realiza la estimación estadística y ante la ausencia de resultados significativos se infiere la existencia de factores adicionales, como el tamaño empresarial, influyentes en la relación .Indagando en entre el tamaño de la compañia y el correspondiente rendimiento financiero. Por tanto, se puede aseverar que la recomendación genérica "un tamaño vale para todo" en este estudio no es aplicable, lo que, por otro lado, va en consonancia con las recomendaciones de la Unión Europea que desaconsejan modelos genéricos para todos los países integrantes. este otro factor se llega a una importante conclusión: el hecho de que existe una fuerte y negativa relación.

Cómo citar

Rodríguez Fernández, M. (2018). Rendimiento financiero de la empresa: ¿Importa el tamaño del consejo de administración? Caso del índice EUROSTOXX50. Cuadernos De Gestión, 15(2), 15–38. https://doi.org/10.5295/cdg.140474mr
Abstract 63 | PDF (English) Downloads 41

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Keywords

Gobierno corporativo, tamaño del consejo de administración, ROA, ROE, Q de Tobin, índice EUROSTOXX 50

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