Does good corporate governance matter? Best practice in Poland

M. Aluchna
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引用次数: 39

Abstract

Purpose – The purpose of this paper is to investigate the relationship between compliance with corporate governance best practice and corporate performance within Poland.Design/methodology/approach – The analysis is based on the regression of corporate governance compliance rating and corporate performance on a sample of Polish public listed companies for years 2004‐2006.Findings – The research indicates that complying with corporate governance best practice in Poland is associated with lower return on investment (the whole sample). However, the tendency changes into negative but statistically insignificant for the second and third years, and positive but statistically insignificant when only rated companies are included in the research sample. The relationship between proxy of Tobin's q and corporate governance rating remains statistically insignificant and is negative for the whole sample and positive for first and third year as well as for rating companies.Research limitations/ implications – The next ...
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良好的公司治理重要吗?波兰最佳实践
目的-本文的目的是调查遵守波兰公司治理最佳实践与公司绩效之间的关系。设计/方法/方法-分析基于2004 - 2006年波兰上市公司样本的公司治理合规评级和公司绩效的回归。研究结果-研究表明,在波兰,遵守公司治理最佳实践与较低的投资回报率(整个样本)相关。然而,在第二年和第三年,趋势变为负向,但统计不显著;当只包括评级公司时,趋势变为正向,但统计不显著。托宾q的代理与公司治理评级之间的关系在统计上不显著,在整个样本中为负,在第一年和第三年以及评级公司中为正。研究局限/启示-下一个…
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