Impact Of Corporate Board Size On Corporate Performance: Evidence From Sri Lanka
The purpose of this is to examine the relationship between corporate board size and corporate performances of Sri
Lankan listed companies. This study employs a cross sectional analysis of 109 firms listed in Colombo Stock Exchange
(CSE) for the financial year ending 2013 and multivariate analyses are used to test the hypotheses. The results show that
board size is significantly negatively associated with ROA and insignificantly negatively linked with ROE. Control variables
of board independent, CEO duality and leverage are negatively related with ROA and ROE. Meanwhile, other variables of
firm size and dividend yield are significantly positively linked with ROA and ROE.
Keywords- corporate governance, board size, corporate performance, ROA, ROE