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Key Corporate Governance Indicators and their Relation to the Decision to Profit Maximize

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  • Kenny Crossan

    (Department of Economics, Accounting and Statistics, Edinburgh Napier University, Craiglockhart Campus, Edinburgh, EH14 1DJ k.crossan@napier.ac.uk)

Abstract

The paper identifies a number of key indicators that have been suggested in recent reports to encourage good governance within firms. These variables (the separation of CEO and Chairperson, committee structures and board structures) are used in a binary probit model to test for a link between good governance and a firm aiming for a maximum level of profit. The findings from this study suggest that there is a statistically significant relationship between a firm being classified as a profit maximzer and that firm having a majority of independent directors on the main board.

Suggested Citation

  • Kenny Crossan, 2009. "Key Corporate Governance Indicators and their Relation to the Decision to Profit Maximize," Journal of Interdisciplinary Economics, , vol. 21(3), pages 327-338, September.
    • Handle: RePEc:sae:jinter:v:21:y:2009:i:3:p:327-338
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