The Impact of Board Characteristics on the Capital

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    The Impact of Board

    Characteristics on theCapital Returns of Publicly

    Listed Entities in theFood, Beverage, and

    Tobacco Industry in thePhilippines for the ear

    !"#$

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    !"#$

    ## Philippine companies

    !"#% &'E&( Corporate)overnance Conference

    &'E&( Capital *ar+ets Forum

    top %" publicly listed companies in the

    &'E&(Food, Beverage and Tobacco'ubsector of the Industry

    !"#!

    Php billion

    largest portion of the subsidies

    Increased standards of living

    sin ta- reform measure

    &'E&( Economic Integration !"#%

    promote proper corporate

    governance

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    'tatement of the Problemcorrelation of the boardcharacteristics and the capitalreturns

    selected publicly.listed entities inthe Food, Beverage and Tobacco

    Industry

    a frame/or+ for indicators of optimal

    board structure that generatespro0table returns

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    'tatement of the 1ypothesis

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    'igni0cance of the 'tudy

    help promote good

    corporate governancepractices

    focusgood corporate

    governance practicesBoard of 2irectors

    0nal responsibility for

    e-ercising oversightfunction overmanagement

    optimi3essta+eholder value

    economic progress)2P

    aid future researches

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    the system by /hich

    organi3ations aredirected and controlled

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    ma4or cause of

    failure of many/ell.performing

    companies

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    attributes to the lo/

    evel

    of developmentof developing nations

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    Board Characteristics in relation to FinancialPerformance

    CE6

    duality

    Boardsi3e

    BoardcompositionPresence of an

    auditcommittee

    'toc+holding

    interest

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    Con7icting vie/s on

    impact of boardcharacteristics on 0rmperformance

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    CE6 2uality and FinancialPerformance

    Conficting

    results..?

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    Board 'i3e

    andFinancialPerformanc

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    Board

    Composition andFinancial

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    Inside

    5

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    6routsidedirectors8

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    'toc+holdingInterest and

    FinancialPerformance

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    &udit

    Committeeand Financial

    Performance

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    *ar+et Performance

    *easures

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    (on.*ar+et.

    6riented *easures

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    Return

    onE9uity

    =

    (et Income :'hareholder;

    s E9uity ER&)E,&(2 T6B&CC6 I(2'TR I( T1EP1ILIPPI(E' F6R T1E E&R !"#$

    C&*&'R& E'C&L&(TE P&(&RE'