Ποιότητα εταιρικής διακυβέρνησης και χρηματοοικονομική επίδοση
Quality of corporate governance and firm performance
KeywordsΕταιρική διακυβέρνηση ; Διοικητικό συμβούλιο ; Διευθυντής ; Δυαδικότητα ; Corporate governance ; Financial performance ; Boards of directors
Corporate Governance is for many years the subject of academic and political debate around the world. Despite heated debate, the results on how different systems of governance affect Firm Performance are mixed. It is well known that the formulation of the Corporate Governance policies is determined by factors directly related to the concept of performance. The purpose of this study is to examine what is meant by the concept of Corporate Governance and what is the relationship between Corporate Governance and corporate performance. At first, we refer to important studies dealing with business performance in relation to corporate governance mechanisms. Specifically we analyze the size of the Board, the presence of women in the Boards, the executive and non-executive members, the existence of external / independent members and finally the existence of duality (CEO Duality). To ascribe the concept of performance we used the ROA, the ROE and the Market Value. By using two models, with the least squares method we tried to show the effect of Corporate Governance variables on the profitability of companies. The analysis was for the United Kingdom and as sample we used the 100 companies with the largest market capitalization (FTSE 100 UK). The study's period is 2015.