THE RELATIONSHIP BETWEEN THE DEGREE OF COMPLIANCE WITH THE CORPORATE GOVERNANCE CODE AND ORGANIZATIONAL PERFORMANCE: A STUDY ON ROMANIAN FIRMS

Corina Gavrea (), Roxana Stegerean () and Anamaria Marin ()
Additional contact information
Corina Gavrea: Babes-Bolyai University, Faculty of Economics and Business Administration, Cluj-Napoca, Romania
Roxana Stegerean: Babes-Bolyai University, Faculty of Economics and Business Administration, Cluj-Napoca, Romania
Anamaria Marin: Babes-Bolyai University, Faculty of Economics and Business Administration, Cluj-Napoca, Romania

JOURNAL STUDIA UNIVERSITATIS BABES-BOLYAI NEGOTIA, 2013

Abstract: The companies listed on the Bucharest Stock Exchange (BSE) are required to adopt the BSE Corporate Governance Code on comply or explain basis. Previous studies of the relationship between the compliance and organizational performance have found a weak ling. In this study we constructed a Corporate Governance Index based on the “Apply or Explain” reports of the listed companies on the BSE. We showed that the Index is significant and negatively correlated with firm performance measured using ROA and ROE as dependent variables. Also the index proved to be significantly correlated with the size of the board of directors.

Keywords: organizational performance; corporate governance; board duality; gender diversity; board structure (search for similar items in EconPapers)
JEL-codes: G30 M10 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://tbs.ubbcluj.ro/RePEc/bbn/journl/Negotia_1_2013.pdf Revised version, 2012 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bbn:journl:2013_1_2_gavrea

Access Statistics for this article

JOURNAL STUDIA UNIVERSITATIS BABES-BOLYAI NEGOTIA is currently edited by Cornelia Pop

More articles in JOURNAL STUDIA UNIVERSITATIS BABES-BOLYAI NEGOTIA from Babes-Bolyai University, Faculty of Business Contact information at EDIRC.
Bibliographic data for series maintained by Cornelia Pop ( this e-mail address is bad, please contact ).