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Li, Cong (2020) The influence of corporate governance on firm performance: Evidence from the US and the UK. [Dissertation (University of Nottingham only)]

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Abstract

Abstract

After the outbreak of corporate scandals, many countries including the United States and the United Kingdom have paid more attention to governance practices and have carried out several governance reforms. The purpose of this paper is to explore the association between four important governance mechanisms including the size of the board, board composition, duality, and the number of audit committee meetings and the performance of listed firms in the US and the UK. ROA, ROE, and Tobin’s Q are used as measures of performance. We conduct the panel data analysis, covering the period 2006 to 2019. The regression results show that for both the US and the UK companies, the size of the board is positively linked to the performance. However, we find no association between board composition and company performance. Besides, our study indicates that the dual position is not significantly correlated with the performance, whereas the frequency of the audit committee meetings may weaken the performance of the US companies. We also find that the dual role of CEO / chairperson is closely related to the performance of the UK firms. When the CEO is the chairman of the board, Tobin’s Q is higher. Yet, the number of audit committee meetings is insignificant for all the models.

Item Type:	Dissertation (University of Nottingham only)
Depositing User:	LI, CONG
Date Deposited:	13 Apr 2023 12:24
Last Modified:	13 Apr 2023 12:24
URI:	https://eprints.nottingham.ac.uk/id/eprint/62405

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