... and conducting regression analyses, this study empirically validates the symbolic and functional value of establishing a greater proportion of independent directors than the legal requirement. Additional analyses using the bootstrapping technique confirm the validity of the study findings. Findings...

... of the most crucial aspects of the board of directors. Because of their independence from the corporation, outside independent directors are more likely to be unbiased. As a result, board independence is commonly used as a proxy for board quality. Design/methodology/approach In addition to the standard...