We investigate if, in a sample of Italian firms, there is a relation betweena good Governance index (gGI), the performance and the default risk and which governance determinants are most responsible of these effects, also comparing family and non-family firms and the companies more or less active in external growth strategies. Our results show that the Corporate Governance quality presents some correlations with performance and risk. The non-family companies have a positive correlation between some Corporate Governance drivers and performance and Z-score. Furthermore, the “welladvised” firms in external strategies are able to obtain a better correlation with performance and also a good relation with Z-score
THE CORPORATE GOVERNANCE DRIVERS, PERFORMANCE AND RISK: EMPIRICAL EVIDENCE FROM ITALIAN CONTEXT
BERNINI, FRANCESCA;MARIANI, GIOVANNA;
2014-01-01
Abstract
We investigate if, in a sample of Italian firms, there is a relation betweena good Governance index (gGI), the performance and the default risk and which governance determinants are most responsible of these effects, also comparing family and non-family firms and the companies more or less active in external growth strategies. Our results show that the Corporate Governance quality presents some correlations with performance and risk. The non-family companies have a positive correlation between some Corporate Governance drivers and performance and Z-score. Furthermore, the “welladvised” firms in external strategies are able to obtain a better correlation with performance and also a good relation with Z-scoreI documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
