The effects of corporate governance mechanisms and investment opportunity set on firm performance

Autor:	Yeun-Wen Chang, Fiona Hu, Ruey-Dang Chang, Ching-Ping Chang
Rok vydání:	2008
Předmět:	Finance business.industry Corporate governance Capital call Business Investment (macroeconomics) Set (psychology) General Business Management and Accounting
Zdroj:	Corporate Ownership and Control. 5:135-148
ISSN:	1810-3057 1727-9232
DOI:	10.22495/cocv5i4p13
Popis:	This study uses investment opportunity set (IOS) as an environmental factor, and investigates its moderating effect on the relationships between corporate governance mechanisms (including internal and external corporate governance mechanisms) and firm performance. The empirical results using regression analysis show: (1) The IOS does not have a moderating effect on audit quality and firm performance. (2) The negative relationship between institutional investor ownership and firm performance is stronger for firms with higher investment opportunities. (3) When CEO is the chairman of the board, high growth firms can lead to better firm performance. (4) The relationship between the IOS and pledged shares ratio of directors and supervisors has positive influence on firm performance
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::dfea1e69b22a7fbbdc1ffcd75cc06bcb https://doi.org/10.22495/cocv5i4p13 Zobrazit plný text záznamu