Growth Intentions and Board Composition in High‐Growth Firms |
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Authors: | Casper Claudi Rasmussen Silja Korhonen‐Sande |
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Institution: | Casper Claudi Rasmussen is associate professor in the Department of Creativity and Innovation, Kristiania University College. |
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Abstract: | This paper examines the influence of board composition on growth intentions of high‐growth firms. We hypothesize that gender diversity and a high proportion of independent directors on the board will reduce a firm's growth intentions, whereas founder duality will increase a firm's growth intentions. Using survey data from 773 high‐growth Norwegian firms, we find that gender diversity has a negative effect on growth intentions. A high proportion of independent directors do not facilitate further growth in high‐growth firms. Furthermore, our results indicate that the founder's presence in the decision‐making group increases a firm's growth intentions. |
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