The factors that encourage or discourage the appointment of outside directors to the boards of private companies in New Zealand

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dc.contributor.advisor Erakovic, L en
dc.contributor.author Stevens, Hamish en
dc.date.accessioned 2014-08-19T00:09:30Z en
dc.date.issued 2014 en
dc.identifier.citation 2014 en
dc.identifier.uri http://hdl.handle.net/2292/22772 en
dc.description Full text is available to authenticated members of The University of Auckland only. en
dc.description.abstract The issue motivating this study is the discrepancy between the academic and practitioner literature’s strong advocacy of outside directors on the boards of private companies, and the absence of outside directors on many private company boards in New Zealand. Previous research has focused primarily on the role of outside directors in private companies, the firm based situational circumstances under which they might be beneficial, and the preferred attributes of outside directors. These studies have not however given a substantial focus to owner-based factors that influence the decision to appoint or not to appoint outside directors. Through interviews of 13 private company owners, this study explores the research question: ‘What are the factors that encourage or discourage the appointment of outside directors to the boards of private companies in New Zealand? The study attempts to understand the way in which private company owners assess the net benefit of outside directors. The result of this research is to identify four broad owner based factors that may encourage or discourage the appointment of outside directors. These relate to the owner’s personal strategy, the owner’s attitude to sharing control of their firm, the owner’s awareness of corporate governance models, and the characteristics of the owner’s network. Additionally key firm-based situational factors are also identified that moderate the effect of owner-based factors. This research offers some theoretical contributions and practical implications that may allow some of the barriers to appointing outside directors to be addressed. As in many countries, private companies in New Zealand represent a vast proportion of overall economic activity and if the presence of outside directors can improve the governance of these firms, understanding and addressing these barriers may lead to stronger and more sustainable economic growth from this sector. en
dc.publisher ResearchSpace@Auckland en
dc.relation.ispartof Masters Thesis - University of Auckland en
dc.rights Items in ResearchSpace are protected by copyright, with all rights reserved, unless otherwise indicated. Previously published items are made available in accordance with the copyright policy of the publisher. en
dc.rights Restricted Item. Available to authenticated members of The University of Auckland. en
dc.rights.uri https://researchspace.auckland.ac.nz/docs/uoa-docs/rights.htm en
dc.rights.uri http://creativecommons.org/licenses/by-nc-sa/3.0/nz/ en
dc.title The factors that encourage or discourage the appointment of outside directors to the boards of private companies in New Zealand en
dc.type Thesis en
thesis.degree.grantor The University of Auckland en
thesis.degree.level Masters en
dc.rights.holder Copyright: The Author en
pubs.elements-id 449771 en
pubs.record-created-at-source-date 2014-08-19 en


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