Corporate Governance and Company Performance: Evidence from Greece

46 Pages Posted: 6 Jan 2012

See all articles by Niels Hermes

Niels Hermes

University of Groningen - Faculty of Economics and Business

Vasiliki Katsigianni

affiliation not provided to SSRN

Date Written: January 6, 2011

Abstract

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.

Keywords: corporate governance, firm performance, Greece

Suggested Citation

Hermes, Niels and Katsigianni, Vasiliki, Corporate Governance and Company Performance: Evidence from Greece (January 6, 2011). Available at SSRN: https://ssrn.com/abstract=1980331 or http://dx.doi.org/10.2139/ssrn.1980331

Niels Hermes (Contact Author)

University of Groningen - Faculty of Economics and Business ( email )

Postbus 72
9700 AB Groningen
Netherlands

Vasiliki Katsigianni

affiliation not provided to SSRN ( email )

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
465
Abstract Views
7,029
Rank
128,501
PlumX Metrics