Determinants of good governance practices: the role of board independence
| Autor: | Álvaro Melón Izco, Francisco Javier Ruiz Cabestre, María del Carmen Ruiz-Olalla Corcuera |
|---|---|
| Rok vydání: | 2019 |
| Předmět: |
Economics and Econometrics
050208 finance business.industry Corporate governance media_common.quotation_subject 05 social sciences Accounting Independence Variable (computer science) Good governance Stock exchange 0502 economics and business Positive relationship Statistical dispersion business 050203 business & management Finance media_common |
| Zdroj: | Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad. 49:370-393 |
| ISSN: | 2332-0753 0210-2412 |
| DOI: | 10.1080/02102412.2019.1655336 |
| Popis: | This study contributes to broadening our knowledge of the corporate governance of firms. In particular, we consider board independence as a fundamental variable in the explanation of good governance practices. For this purpose, we analyse the Annual Corporate Governance Reports of the Spanish listed companies on the Continuous Market of the Madrid Stock Exchange during the period 2010–2016. The results for all companies reveal that firm size, ownership dispersion and board independence have a positive relationship with good practices, and the relationship between board independence and good governance practices is moderated by ownership dispersion. When we distinguish between firms that comply with board independence recommendation and those that do not, however, the results differ substantially, in terms of sign, magnitude and significance level. This highlights the importance of board independence in explaining good governance practices. |
| Databáze: | OpenAIRE |
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