The Board's Demography—Firm Performance Relationship Revisited: A Bayesian Approach
基于行为理论，研究了中小家族企业中董事会人口统计特征（规模、家族董事比例）对企业绩效的异质性影响，发现董事会任务需求与任务绩效的差距能解释这种影响。
Building on behavioral theory, we argue that the effect of board demography on the performance of small and medium-sized family firms differs significantly at the individual firm level and that the degree by which board task performance meets board task needs explains this effect. Using a Bayesian estimation method, we obtain firm specific estimates of the effect of board demography on firm performance. Analysis of these estimates indicates that the size of the gap between board task needs and board task performance explains the effects of the board demographic characteristics—board size and percentage of family directors—on firm performance.