This article investigates the nexus among board
structure, internal Corporate Governance (CG)
mechanisms and firm value. The literature provides
mixed evidence on the relation between board structure
and firm value. Most US studies on the relation
between board independence and firm performance
yield either nonsignificant (e.g. Hermalin and
Weisbach, 1991; Mehran, 1995; Klein, 1998) or
negative (e.g. Agrawal and Knoeber, 1996; Bhagat