Corporate governance and financial performance of companies in Poland
Marek Gruszczynski ()
No 19, Working Papers from Department of Applied Econometrics, Warsaw School of Economics
The research presented in the paper is aimed at examining the relationship between the level of corporate governance and the financial performance of listed companies in Poland. The corporate governance degree is expressed by the outcomes of a rating of 2003 performed by Polish Corporate Governance Forum. The attempted models are of ordered multinomial type. Endogenous variable represents the rating outcome (A–, B+, B, B–, and C+), while the exogenous variables include various financial indicators evaluated on the basis of the 2002’ financial statements. The estimated ordered logit models show that the level of corporate governance of companies in Poland is associated by their ability to cope with the financial distress, as expressed by the degree of liquidity, profitability and the financial leverage variables.
Keywords: corporate governance; financial indicators; rating; ordered logit (search for similar items in EconPapers)
JEL-codes: C10 O57 G30 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4) Track citations by RSS feed
Downloads: (external link)
http://kolegia.sgh.waw.pl/pl/KAE/struktura/IE/stru ... Papers/aewp02-05.pdf (application/pdf)
Journal Article: Corporate Governance and Financial Performance of Companies in Poland (2006)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:wse:wpaper:19
Access Statistics for this paper
More papers in Working Papers from Department of Applied Econometrics, Warsaw School of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Marcin Owczarczuk ().