Impact of board composition and board meetings on firm performance: A study on 30 public industrial firms from selected ASEAN countries for years 2008-2012

This study provides empirical findings in determining the relationship of board composition and board meetings to the financial performance of publicly listed industrial firms in Philippines, Thailand, and Indonesia from 2008 to 2012 by regressing using the ordinary least squares (OLS) method. In addition, this study also provides comparison of results of the industrial firms to multi-national firms, family controlled firms and government controlled firms in the Philippines only. There is evidence that board size is significant to the financial performance of the industrial firms of the three countries as well as to the financial performance of the multi-national firms, family controlled firms, and government controlled firms in the Philippines. Board meetings and other components of board composition such as number of executive directors, CEO duality, and board independence also showed significance to the financial performance of firms but not to all three countries and with conflicting results. Moreover, there is strong evidence shown in this study for the relationship of board composition and board meetings to financial performance of the companies in the Philippines since most of the variables showed significance