CORPORATE GOVERNANCE AND FIRM PERFORMANCE

Claudiu Bocean and Catalin M. Barbu
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Catalin M. Barbu: University of Craiova, Craiova, Romania

Management and Marketing Journal, 2007, vol. 5, issue 1, 125-131

Abstract: Good corporate governance is an important step in building market confidence and encouraging more stable, long-term international investment flows. Many countries see better corporate governance practices as a way to improve economic dynamism and thus enhance overall economic performance. This paper sets out to further develop our understanding of corporate governance and its effects on corporate performance and economic performance. In doing so, it addresses some of the underlying factors that promote efficient corporate governance, and examines some of the economic implications associated with various corporate governance systems. I provide an framework for understanding how corporate governance can affect corporate performance. In the wake of a literature survey, I find that corporate governance matters for economic performance, insider ownership matters the most, outside ownership concentration destroys market value, direct ownership being superior to indirect.

Keywords: corporate governance; company performance (search for similar items in EconPapers)
JEL-codes: M14 (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:aio:manmar:v:5:y:2007:i:1:p:125-131

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