Corporate Governance Disclosures: The Case of Latvian Companies Listed on Baltic Stock Exchange

There are studies showing inconclusive results toward mutual influence between corporate governance and company's performance. There are studies with a strong positive relation, others with a negative one or even the third category of studies concluding that there are no any relationship at all [30]. Nevertheless most of studies show the positive link between corporate governance and company's performance, there are also ones showing mixed results or even no any mutual relationship between corporate governance and company's performance. Therefore, mechanisms of corporate governance do have influence on company's financial performance - some positively, others in a negative way. This research paper studies whether there is any mutual relation between corporate governance disclosures and performance of Latvian listed companies on Baltic stock exchange. The research is based as on the analysis of theoretical literature and research papers within the area of corporate governance disclosures, its influence on companies' performance as on analysis of corporate governance codes and annual reports of Latvian companies listed on Baltic stock exchange. Results of this research might be of interest for academic researchers as well as educators and practitioners of companies' annual reports analysis. Conducted research enabled to define new recommendations relating corporate governance disclosures of Latvian listed companies on Baltic stock exchange.