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Corporate Governance and Firm Performance in Pakistan: Dynamic Panel Estimation

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  • Akbar, Muhammad
  • Hussain, Shahzad
  • Ahmad, Tanveer
  • Hassan, Shoib

Abstract

The purpose of this research is to analyze the association between corporate governance and firm performance. Specifically, it examines the impact of CEO duality on board characteristics and its relationship with firm performance through dynamic penal estimation. Findings of this research are based on a sample of 230 listed non-financial firms over the period 2004-2014. We document that the corporate governance plays a pivotal role in determining the financial performance of firms operating in Pakistan. Consistent with past studies, findings of this research also show some statistical variations among the sampled firms (large and small size). The CEO duality compromises the efficiency of board independence. Further, the non-linear relationship of managerial ownership with performance is also depicted through the results of this study.

Suggested Citation

  • Akbar, Muhammad & Hussain, Shahzad & Ahmad, Tanveer & Hassan, Shoib, 2020. "Corporate Governance and Firm Performance in Pakistan: Dynamic Panel Estimation," CAFE Working Papers 6, Centre for Accountancy, Finance and Economics (CAFE), Birmingham City Business School, Birmingham City University.
    • Handle: RePEc:akf:cafewp:6
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