Does boardroom nationality affect the performance of UK insurers? |
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| Institution: | 1. Queen Mary, University of London, School of Business and Management, Francis Bancroft Building, Mile End Road, London, E1 4NS, United Kingdom;2. The Open University Business School, Department for Accounting & Finance, Walton Hall, Milton Keynes, MK7 6AA, United Kingdom;1. London School of Economics and Political Science, United Kingdom;2. Aston Business School, Aston University, United Kingdom;1. Kent Business School – University of Kent, Park Wood Rd, Canterbury, CT2 7FS, UK;2. School of Accounting – RMIT University, 445, Swanston Street, 3000, VIC, Australia;3. Department of Economics and Management, University of Pisa, Via Cosimo Ridolfi, 10, 56124, Pisa, Italy;1. Department of Management & Innovation Systems, University of Salerno, Italy;2. Department of Business and Economics, Parthenope University of Naples, Italy;3. Department of Accounting, Aston Business School, Aston University, Birmingham, UK;4. Department of Economics and Management, University of Pisa, Italy |
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| Abstract: | Drawing on the board capital literature, we use a panel data design to investigate the effect of boardroom nationality on the profitability and solvency of property-casualty insurers operating in the United Kingdom (UK). We find that boardroom nationality influences corporate outcomes depending on the financial aspects being measured. For example, North American directors are linked with profitable outcomes, while European directors tend to be associated with better solvency. This reflects differences between the shareholder value corporate culture in North America and stakeholder approaches more common in Europe. Our results could help insurers, regulators, and others (e.g., investors) to better understand the potential performance implications of the appointment of directors of different nationality. |
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| Keywords: | Boardroom nationality Insurance Profitability Solvency United Kingdom (UK) |
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