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A Conceptual Framework for Understanding Board Characteristics and Firm Performance Nexus and the Role of Moderator on their Relationship

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This paper theoretically investigates the link between corporate board characteristics and firm performance before and during the COVID-19 pandemic. Underpinned by the upper echelon theory, this paper examines the potential interaction terms and moderating variables that may influence their relationship. This paper adds to the existing literature by presenting the effect of board characteristics presently demonstrated and shedding light on their relationship in the context of an emerging economy. Ultimately, this paper offers investors, shareholders, and management insights into embracing board diversity to reap its full benefits in enhancing firm performance. Additionally, this paper imparts valuable input for the corporation, particularly the management, in their continuous effort to remain competitive and protect stakeholders’ interests during uncertain times.
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