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Understanding the political connections of Portuguese companies through their board members
Título Revista
European Journal of Management Studies
Ano (publicação definitiva)
N/A
Língua
Inglês
País
Portugal
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Abstract/Resumo
Purpose – This study aims to analyse the political connections of Portuguese companies through the
members of the board of directors, exploring how these connections influence, in particular, the composition and characteristics of the boards.
Design/methodology/approach – The research used a strategy based on analysing the financial statements and curriculum vitae of the directors of Portuguese companies listed on Euronext Lisbon from 2014 to 2019. The political connections of board members were examined, considering the variables identified in the existing literature.
Findings – The results indicate that companies with political connections maintain these relationships for long periods and have a greater number of members on the board of directors compared to companies without such connections. Directors with political experience tend to occupy non-executive positions, suggesting that companies may value political contacts more than the management skills of these directors. It was also found that there are politically connected directors who belong to multiple boards and that women appointed to the board are less likely to have a political background, reflecting male dominance in Portuguese politics.
Research limitations/implications – The main limitations of this study include the small number of listed companies in the sample, which may affect the statistical robustness of the results, as well as the use of secondary sources, which may not capture all relevant policy linkages. In addition, the results are
specific to the Portuguese context and may not be generalisable to other countries or other regions of
the world.
Originality/value – This study contributes to the understanding of political connections in Portuguese
companies, offering valuable insights into how these connections influence board composition and can impact corporate strategy and governance. The findings of this study can be especially useful for business leaders looking to optimise the formation of their boards of directors
Agradecimentos/Acknowledgements
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Palavras-chave
Board of directors,Euronext Lisbon,Political Connections
Contribuições para os Objetivos do Desenvolvimento Sustentável das Nações Unidas
Com o objetivo de aumentar a investigação direcionada para o cumprimento dos Objetivos do Desenvolvimento Sustentável para 2030 das Nações Unidas, é disponibilizada no Ciência-IUL a possibilidade de associação, quando aplicável, dos artigos científicos aos Objetivos do Desenvolvimento Sustentável. Estes são os Objetivos do Desenvolvimento Sustentável identificados pelo(s) autor(es) para esta publicação. Para uma informação detalhada dos Objetivos do Desenvolvimento Sustentável, clique aqui.