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Do risk management, internal control and corporate reputation positively impact on firm value? A panel data econometric analysis and policy implications
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Corporate governance has grown in importance due to the poor financial state of affairs of many companies in the past decade. Good corporate governance is perceived to increase firm value because it may help to reduce agency problems and build investors‘ confidence. Moreover, it is perceived that good corporate governance not only reduces the risk of fraud and corporate collapse, but also creates wealth by improving the financial performance. However, despite many studies on corporate governance founding a positive relationship between corporate governance and corporate performance, none has studied the impacts of the following three elements of corporate governance: risk management, internal control and corporate reputation on firm value in an integrated way. This research examines the impacts of these elements of corporate governance such as: risk management, internal control and corporate reputation on firm performance. Therefore, the objective of this paper in to investigate (1) the relationships between risk management, internal control, corporate reputation and firm performance collectively in an investigated model and (2) the relationships between this three elements of corporate governance and firm performance separately for each element in a separate model ( such as the relationship between (a) risk management and firm performance , (b) internal control and firm performance, (c) corporate reputation and firm performance .Data analysis adopts the econometric model presented in the STATA program using secondary data resources. Overall results show that all three elements of corporate governance positively impact firm performance. This finding has significant corporate policy and strategy implications.
Azizah1 and Sardar M.N.Islam - Personal Name
978-969-9948-21-3
NONE
Management
English
1-17
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