Board of Directors as a Factor of Financial Performance of Innovative-active Companies

Student: Panchenko Andrey

Faculty: St.Petersburg School of Economics and Management

Educational Programme: Economics (Bachelor)

Year of Graduation: 2020

This paper analyzes the impact of the structure of the Board of Directors on the financial performance of innovative-active companies. In this work, data was collected from the SPARK database and financial statements of companies. The main method of this research was regression analysis, which allowed to assess the impact of various structural features of the Board of Directors on the company's financial performance. In this paper the role of the Board of Directors in Russian innovation-active companies was analysed, and the relationship between the structural characteristics of boards of Directors and the financial performance of innovative-active companies was stated. It was found that the size of the Board of Directors and the presence of an audit Committee negatively affect the company's financial success rate, expressed by the Tobin coefficient.

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