Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/206349 
Year of Publication: 
2016
Citation: 
[Journal:] BRQ Business Research Quarterly [ISSN:] 2340-9436 [Volume:] 19 [Issue:] 4 [Publisher:] Elsevier España [Place:] Barcelona [Year:] 2016 [Pages:] 233-245
Publisher: 
Elsevier España, Barcelona
Abstract: 
This paper analyses the effect of corporate governance on value creation. It relies upon a dataset that includes the companies listed on the Spanish Stock Exchange for the period from 2005 to 2012. Attention is focused on the structure and composition of boards. In particular, four variables are analyzed: BOARD_SIZE, BOARD_INDEPENDENCE, BOARD_DILIGENCE (measured by the number of meetings), and DUALITY (chairman and chief executive officer being the same person). Over the period of the deepest economic crisis (2009–2012) the most significant variables that had a positive effect on value creation were BOARD_INDEPENDENCE and BOARD_SIZE. Hence, the global financial crisis has highlighted the need for effective corporate governance. Policy makers should think about translating the recommendations of the Good Governance Codes into legislation (mandatory), to improve corporate governance."
Subjects: 
Corporate governance
Value creation
Board
Economic crisis
Independence
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.