Complex and diverse roles performed by non-executive directors in the context of the implementation of the non-regulatory codes of corporate governance: evidence from small and medium firms in the UK

Authors

H W. Gunathilake, University of Sri JayewardenepuraFollow
Palli Mulla K A Chandrakumara, University of WollongongFollow

RIS ID

75491

Publication Details

Gunathilake, H. W. & Chandrakumara, P. (2012). Complex and diverse roles performed by non-executive directors in the context of the implementation of the non-regulatory codes of corporate governance: evidence from small and medium firms in the UK. 57th ICSB World Conference (pp. 2101-2133).

Abstract

This study aims to address two interrelated issues. (1) What is the role of nonexecutive directors (NEDs) of public companies listed in the Alternative Investment Market (AIM) in the UK? (2) Whether AIM listed companies accept the principles and provisions of the Combined Code of Corporate Governance (CCCG)? And, if so, to what extent? The findings indicate that the nature of task of NEDs of AMI listed firms is characterised by multiplicity of tasks and task variation by the type of chair. This study contributes to fill the knowledge gap in the literature with regard to the role of NEDs of SMEs in general and AIM listed companies in the UK in particular.