کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
7414877 1481856 2016 13 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
On the relationship between corporate governance and value creation in an economic crisis: Empirical evidence for the Spanish case
ترجمه فارسی عنوان
در رابطه بین حکمرانی شرکتی و ایجاد ارزش در یک بحران اقتصادی: شواهد تجربی برای پرونده اسپانیایی
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری حسابداری
چکیده انگلیسی
This paper analyses the effect of corporate governance on value creation. It relies upon a dataset that includes the companies listed on the Spanish Stock Exchange for the period from 2005 to 2012. Attention is focused on the structure and composition of boards. In particular, four variables are analyzed: BOARD_SIZE, BOARD_INDEPENDENCE, BOARD_DILIGENCE (measured by the number of meetings), and DUALITY (chairman and chief executive officer being the same person). Over the period of the deepest economic crisis (2009-2012) the most significant variables that had a positive effect on value creation were BOARD_INDEPENDENCE and BOARD_SIZE. Hence, the global financial crisis has highlighted the need for effective corporate governance. Policy makers should think about translating the recommendations of the Good Governance Codes into legislation (mandatory), to improve corporate governance.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: BRQ Business Research Quarterly - Volume 19, Issue 4, October–December 2016, Pages 233-245
نویسندگان
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