Corporate Governance and Company Performance: Evidence from Greece
University of Groningen - Faculty of Economics and Business
affiliation not provided to SSRN
January 6, 2011
We investigate whether differences of corporate governance practices across companies explain variations in performance. Using data from 124 firms listed on the Athens stock exchange for the year 2007 we construct an index measuring company-specific corporate governance. Based on simple OLS and 2SLS analysis, we find that better governed companies show higher performance, measured by company valuation (Tobin’s Q) and operating performance (ROA), using data for 2004-2007. In addition, we show that some aspects of corporate governance are more important than other ones.
Number of Pages in PDF File: 46
Keywords: corporate governance, firm performance, Greeceworking papers series
Date posted: January 6, 2012
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