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Corporate Governance and Firm Financial Performance: A Meta-Analysis Study

Author

Listed:
  • Ali, Waris
  • Riaz Hussain Ansari
  • Muhammad Abdul Basit Memon

Abstract

&Based on the meta-analysis of 67 empirical research papers, this research extends prior reviews / meta-analysis studies by investigating the link of corporate governance (CG hereafter) mechanisms with firm financial performance. Further, this research contributes to the extant literature by making comparison of usefulness of CG mechanisms in both developed and developing countries. CG mechanisms appear to play differential role in driving corporate financial performance in both developed and developing countries. In developed countries board meeting and female representation on board has significant positive impact on firm financial performance, while board independence and board size has significant negative relationship. Inconsistent with the results of developed countries, firm financial performance appear to be negatively associated with board independence, board meeting, and managerial ownership and positively associated with ownership concentration. This difference can be attributed to different institutional settings in both developed and developing countries.

Suggested Citation

  • Ali, Waris & Riaz Hussain Ansari & Muhammad Abdul Basit Memon, 2020. "Corporate Governance and Firm Financial Performance: A Meta-Analysis Study," Journal of Accounting and Finance in Emerging Economies, CSRC Publishing, Center for Sustainability Research and Consultancy Pakistan, vol. 6(4), pages 917-940, December.
    • Handle: RePEc:src:jafeec:v:6:y:2020:i:4:p:917-940
    DOI: http://doi.org/10.26710/jafee.v6i4.1401
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