INVESTIGATING THE RELATIONSHIP BETWEEN THE INTERNAL CORPORATE GOVERNANCE MECHANISMS, CEO CHARACTERISTICS, AND FIRM PERFORMANCE. PANEL DATA EVIDENCE FOR THE BUCHAREST STOCK EXCHANGE LISTED COMPANIES

被引：0
|
作者：
Gherghina, Stefan Cristian [1 ]
Vintila, Georgeta [1 ]
机构：
[1] Bucharest Univ Econ Studies, Bucharest, Romania
来源：
PROCEEDINGS OF THE 10TH INTERNATIONAL CONFERENCE ACCOUNTING AND MANAGEMENT INFORMATION SYSTEMS (AMIS 2015) | 2015年
关键词：
board size; board independence; board gender diversity; CEO characteristics; firm performance; BOARD COMPOSITION; AGENCY COSTS; DIRECTORS; WOMEN; SIZE; INVESTMENT; OWNERSHIP; POSITIONS; BEHAVIOR; GENDER;
D O I：
暂无
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This paper aims at empirically investigating the relationship between the internal corporate governance mechanisms (board size, independence, gender diversity, CEO duality), CEO characteristics (gender, age, tenure, state of residence), and industry-adjusted accounting-based measures (return on assets and return on equity) alongside market-based measures of performance (price/earnings ratio and earnings per share), for a sample of companies listed on the Bucharest Stock Exchange. By employing the panel least squares method, without cross-sectional effects, we noticed a positive influence of board size and gender diversity, therewith CEO tenure on firm performance, whereas CEO duality, gender, age, and state of residence negatively influenced firm performance. Furthermore, by considering effects specification (cross-section fixed), our empirical results provided support for a positive relationship between CEO duality, gender, and tenure, and firm performance, respectively a negative association between board size, CEO age, and firm performance. However, current results are not robust for all the selected performance measures.
引用
收藏
页码：761 / 777
页数：17
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