An integrated corporate governance framework and financial performance in South African-listed corporations
Ntim, Collins G. (2013) An integrated corporate governance framework and financial performance in South African-listed corporations. South African Journal of Economics, 81, (3), 373-392. (doi:10.1111/j.1813-6982.2011.01316.x).
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This paper investigates the relationship between an integrated corporate governance (CG) index and financial performance using a sample of 169 South African (SA) listed corporations between 2002 and 2007. We find a statistically significant and positive association between a broad set of good CG practices and financial performance. In a series of sensitivity analyses, we find that our results are robust to endogeneity, different financial performance proxies, alternative CG weighting scheme and firm-level fixed-effects. We further distinctively examine the link between complying with SA context specific stakeholder CG provisions and financial performance. In line with political cost and resource dependence theories, our results reveal a statistically significant and positive nexus between compliance with stakeholder CG provisions and financial performance.
|Digital Object Identifier (DOI):||doi:10.1111/j.1813-6982.2011.01316.x|
|Subjects:||H Social Sciences > HF Commerce > HF5601 Accounting|
|Divisions:||Faculty of Business and Law > Southampton Business School > Centre of Excellence in Decision, Analytics & Risk Research
|Date Deposited:||24 Sep 2012 14:23|
|Last Modified:||27 Mar 2014 20:25|
|RDF:||RDF+N-Triples, RDF+N3, RDF+XML, Browse.|
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