Małgorzata Marchewka
(Cracow University of Economics, Poland)

 

Abstract: The characteristics of Top Management Teams (TMT), which in two-tier Corporate Governance system are supervisory board and management board, are one of the most important determinants of performance of a company. At the same time, the ability to control and shape TMT effectiveness seems to be crucial for investors and shareholders. In the majority of studies, TMT effectiveness is related to the structure of a managing group described by the number of members, their education and experience, as well as gender and origins. The aim of the article is to present the study conducted among 291 companies listed form 2010 to 2013 on the main market of Warsaw Stock Exchange, which enabled the identification of the relations between TMT structure and company performance in case of enterprises operating in Poland. The paper has been prepared in the framework of research project which was funded by the National Science Centre, decision no. UMO-2011/01/N/HS4/02166.

 

Key words: supervisory board; management board; effectiveness; board structure

JEL code: G39