dp0609 - FEP - Universidade do Porto

Variable Mean Std Dev.
Quantitative
Qualitative
(a)
Notes:
Table 5
Board Characteristics
54
1st
Quartile Median
3d
Quartile Min-Max
NUM 7.29 3.34 5 7 9 3-23
MEET 14.32 10.10 7 12 16 4-58
PNEXEC 0.35 0.27 0 0.36 0.57 0-0.86
NEXEC51 0.37
(34)
DUAL 0.73
(66)
EC 0.36
(33)
AUDC 0.08
(7)
The sample includes 91 year-firm observations in the period 2002-2003;
NUM = number of board members;
MEET = total number of board meetings in each year;
PNEXEC = proportion of non-executive members in the board;
NEXEC51 = 1 if the proportion of non-executive members in the board exceeds
50%, 0 otherwise;
DUAL = 1 if the Chairman of the Board and the CEO are the same person, 0
otherwise;
EC = 1 if an executive committee is reported at year-end; 0 otherwise;
AUDC = 1 if an audit committee is reported at year-end, 0 otherwise;
(a) In qualitative variables, the numbers in brackets refer to the sum, that is, the
number of instances where the characteristic in question was observed.