La gouvernance responsable, moyen d'assurer une performance financière en période de crises et post-crise ?

Abderrahman Jahmane (), Mahrane Hofaidhllaoui () and Anis Ali
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Abderrahman Jahmane: IPAG Business School, IPAG Business School - Chaire IPAG "Entreprise Inclusive" - IPAG Business School

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Abstract: In this paper we examine the influence of governance on the financial performance of the 39 publicly traded companies CAC 40 in March 2019. We analyze how social, governmental and environmental performance cannot exist without financial and economic performance. The data analysis model is applied for the study period 2002 to 2017, a period of banking and financial crises. Our results, using the Lesser Square Ordinary (LSO) method and multiple regression with a final validation of the research model using structural equations, indicate that there are negative but not significant links between governance and financial performance measured by ROA and ROE. But this link is significant positive for a measure using Tobin's Q as an indicator. Through our three tested and validated models, we can predict and manage the link between responsible and sustainable governance and financial performance in times of crisis and post-crisis.

Keywords: Governance; Financial performance; ROA; ROE; Tobin's Q; Gouvernance; Performance financière; Tobin’s Q. (search for similar items in EconPapers)
Date: 2021-12-01
Note: View the original document on HAL open archive server: https://hal.science/hal-03767443
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Published in Management & sciences sociales, 2021, Manager en temps de crise : performances et mutations, 31, pp.4-21

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03767443

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