THE IMPACT OF CORPORATE GOVERNANCE ON COMPANY PERFORMANCE (LITERATURE REVIEW)

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F22%3A63553118" target="_blank" >RIV/70883521:28120/22:63553118 - isvavai.cz</a>

Výsledek na webu

<a href="http://dx.doi.org/10.7441/dokbat.2022.21" target="_blank" >http://dx.doi.org/10.7441/dokbat.2022.21</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.7441/dokbat.2022.21" target="_blank" >10.7441/dokbat.2022.21</a>

Jazyk výsledku

angličtina

Název v původním jazyce

THE IMPACT OF CORPORATE GOVERNANCE ON COMPANY PERFORMANCE (LITERATURE REVIEW)

Popis výsledku v původním jazyce

The objective of this paper is to analyse the empirical research that has examined therelationship between corporate governance rating and firm performance in the last two decades,taking into account its possible implications for publicly traded companies in the countries ofVisegrad Group (V4).The research on corporate governance evaluation and its impact on firm performance isextensive. It varies from developed to developing countries, uses different mechanisms forcorporate governance assessment and employs miscellaneous calculations to measure firmperformance. This study focuses on corporate governance indices as a comprehensive way ofmeasuring the overall level of corporate governance.The literature review was undertaken using comparative analysis. The articles focusing oncorporate governance indices and their impact on firm performance in academic journaldatabases since 2001 were explored. Out of the substantial amount of research, a representativesample was selected and analysed in greater detail.The paper established that there is no consistent method of corporate governance evaluationand assessment of its impact on firm performance. Also, the findings vary from a strong positiverelationship between corporate governance rating and firm performance to a non-existent ornegative relationship. There is no doubt among researchers, however, that good corporategovernance represents an important tool in company management.From the factors determining the relationship between corporate governance rating andcompany performance, it was recognized that the institutional environment plays an essentialrole. The strong positive relationship is more often established in emerging markets, whereasin strongly developed economies with higher investor protection the results are mixed.Corporate governance rating also has a greater impact in countries with a continental law systemthan in countries with a common law system.For further research, it is recommended to adopt a shared model of corporate governance rating.With respect to its content, it is necessary to reflect the type of legal system and financing.Furthermore, the corporate governance rating shall consider factors of sustainability. It is alsorecommended to pay attention to statistical and accounting correctness.In the case of V4, i.e. the Czech Republic, Hungary, Poland and Slovakia, which have weakerinstitutional environments, the literature review provides evidence that corporate governancescoring can promote a higher general level of corporate governance, equipping companies witha competitive advantage and improving their access to capital.

Název v anglickém jazyce

THE IMPACT OF CORPORATE GOVERNANCE ON COMPANY PERFORMANCE (LITERATURE REVIEW)

Popis výsledku anglicky

The objective of this paper is to analyse the empirical research that has examined therelationship between corporate governance rating and firm performance in the last two decades,taking into account its possible implications for publicly traded companies in the countries ofVisegrad Group (V4).The research on corporate governance evaluation and its impact on firm performance isextensive. It varies from developed to developing countries, uses different mechanisms forcorporate governance assessment and employs miscellaneous calculations to measure firmperformance. This study focuses on corporate governance indices as a comprehensive way ofmeasuring the overall level of corporate governance.The literature review was undertaken using comparative analysis. The articles focusing oncorporate governance indices and their impact on firm performance in academic journaldatabases since 2001 were explored. Out of the substantial amount of research, a representativesample was selected and analysed in greater detail.The paper established that there is no consistent method of corporate governance evaluationand assessment of its impact on firm performance. Also, the findings vary from a strong positiverelationship between corporate governance rating and firm performance to a non-existent ornegative relationship. There is no doubt among researchers, however, that good corporategovernance represents an important tool in company management.From the factors determining the relationship between corporate governance rating andcompany performance, it was recognized that the institutional environment plays an essentialrole. The strong positive relationship is more often established in emerging markets, whereasin strongly developed economies with higher investor protection the results are mixed.Corporate governance rating also has a greater impact in countries with a continental law systemthan in countries with a common law system.For further research, it is recommended to adopt a shared model of corporate governance rating.With respect to its content, it is necessary to reflect the type of legal system and financing.Furthermore, the corporate governance rating shall consider factors of sustainability. It is alsorecommended to pay attention to statistical and accounting correctness.In the case of V4, i.e. the Czech Republic, Hungary, Poland and Slovakia, which have weakerinstitutional environments, the literature review provides evidence that corporate governancescoring can promote a higher general level of corporate governance, equipping companies witha competitive advantage and improving their access to capital.

Druh

D - Stať ve sborníku

CEP obor

—

OECD FORD obor

50201 - Economic Theory

Projekt

—

Návaznosti

V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Rok uplatnění

2022

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

DOKBAT 2022 - 18th International Bata Conference for Ph.D. Students and Young Researchers

ISBN

978-80-7678-101-6

ISSN

—

e-ISSN

—

Počet stran výsledku

13

Strana od-do

208-220

Název nakladatele

Fakulta managementu a ekonomiky, UTB ve Zlíně

Místo vydání

Zlín

Místo konání akce

Zlín

Datum konání akce

14. 9. 2022

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

—