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Impact of Corporate Governance Framework on Economic Performance in European Union

Author

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  • Steinhauser Dušan

    (University of Economics in Bratislava, Faculty of Commerce, Department of International Trade, Dolnozemská cesta 1,Bratislava, Slovakia)

  • Čukanová Miroslava

    (University of Economics in Bratislava, Faculty of Commerce, Department of Services and Tourism, Dolnozemská cesta 1,Bratislava, Slovakia)

Abstract

In the current post-crisis period, the implementation of Corporate Governance principles has proven to be important. The Organization of Economic Cooperation and Development considers failure of Corporate Governance as one of the causes of the latest financial and economic crisis. We assume that the higher quality of institutional environment point to higher performance of the economy. The aim of the paper is to quantify the implementation of Corporate Governance in the European Union through selected qualitative indicators and his impact on economies. We have verified that countries with better values of judicial independence, protection of property rights, corruption, minority investor protection, extent of conflict of interest and resolving insolvency have a higher value of gross domestic product per capita. The index of enforcing contracts was statistically insignificant.

Suggested Citation

  • Steinhauser Dušan & Čukanová Miroslava, 2018. "Impact of Corporate Governance Framework on Economic Performance in European Union," Studia Commercialia Bratislavensia, Sciendo, vol. 11(40), pages 236-246, December.
    • Handle: RePEc:vrs:stcomb:v:11:y:2018:i:40:p:236-246:n:4
    DOI: 10.2478/stcb-2018-0018
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    References listed on IDEAS

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    1. Iftekhar Hasan & Nada Kobeissi & Liang Song, 2014. "Corporate governance, investor protection, and firm performance in MENA countries," Middle East Development Journal, Taylor & Francis Journals, vol. 6(1), pages 84-107, January.
    2. Grant Kirkpatrick, 2009. "The corporate governance lessons from the financial crisis," OECD Journal: Financial Market Trends, OECD Publishing, vol. 2009(1), pages 61-87.
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