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The Influence of the Board of Director`s Structure on Financial Results of the Company

Student: Nikandrov Andrej

Supervisor: Tatiana G. Dolgopyatova

Faculty: Faculty of Economic Sciences

Educational Programme: Bachelor

Year of Graduation: 2014

<p>The subject of research is the impact of board structure on the company&#39;s financial results .<br />The aim of this work is to identify the impact of board structure on the company&#39;s financial results .<br />To address this goal in the following main tasks :<br />Review of existing literature on the subject .<br />Formulation of hypotheses.<br />Collect the necessary data .<br />Econometric studies .<br />This paper discusses the various indicators of the structure of the Board of Directors , which may affect the performance of the company . Focus on the largest Russian financial sector companies . Data to estimate econometric models were collected using a SPARC system . Initially, the database included 55 companies and 5 years for each , only 275 observations. However, due to the lack of some data final database consists of 199 observations. As a dependent variable Tobin&#39;s Q is selected as independent variables - the size of the Board, the proportion of women and the proportion of foreigners in the council , the average age of directors and the average share in the authorized capital , which is owned by the director. Result of the work was to evaluate the influence of these parameters on the coefficient of Tobin&#39;s Q , which is a proxy for assessing the success of the company.</p>

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