Corporate Governance and Firm Performance in Pakistan: Dynamic Panel Estimation

Muhammad Akbar, Shahzad Hussain, Tanveer Ahmad and Shoib Hassan

No 6, CAFE Working Papers from Centre for Accountancy, Finance and Economics (CAFE), Birmingham City Business School, Birmingham City University

Abstract: The purpose of this research is to analyze the association between corporate governance and firm performance. Specifically, it examines the impact of CEO duality on board characteristics and its relationship with firm performance through dynamic penal estimation. Findings of this research are based on a sample of 230 listed non-financial firms over the period 2004-2014. We document that the corporate governance plays a pivotal role in determining the financial performance of firms operating in Pakistan. Consistent with past studies, findings of this research also show some statistical variations among the sampled firms (large and small size). The CEO duality compromises the efficiency of board independence. Further, the non-linear relationship of managerial ownership with performance is also depicted through the results of this study.

Date: 2020-11-19
New Economics Papers: this item is included in nep-bec, nep-cfn, nep-cse and nep-sbm
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:akf:cafewp:6

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