The UK code of corporate governance: link between compliance and firm performance

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dc.contributor.authorShabbir, Amama
dc.contributor.authorPadgett, Carol
dc.date.accessioned2009-11-10T12:23:52Z
dc.date.available2009-11-10T12:23:52Z
dc.date.issued2008-02
dc.description.abstractWe investigate the relation between a detailed index of non-compliance with the UK corporate governance code, and firm performance for a panel of FTSE 350 companies from 2000 to 2003. The inverse relation between the Index and total shareholder returns (TSR) implies more compliant firms enjoy higher TSR in our sample. We also find the Index to be exogenous, implying that causality runs from the Index to performance. Our economically significant results suggest that compliance matters- not just as a box ticking exercise, but as a real change in the governance of large listed companies in the UK.en_UK
dc.identifier.citationAmam Shabbir and Carol Padgett, The UK code of corporate governance: link between compliance and firm performance. RP 2/08. Cranfield University School of Managementen_UK
dc.identifier.isbn1859051936
dc.identifier.urihttp://hdl.handle.net/1826/3931
dc.language.isoenen_UK
dc.publisherCranfield University School of Managementen_UK
dc.relation.ispartofseriesResearch Paper Seriesen_UK
dc.relation.ispartofseriesRP 2/08en_UK
dc.subjectThe combined codeen_UK
dc.subjectCorporate governanceen_UK
dc.subjectCompliance indexen_UK
dc.subjectFirm performanceen_UK
dc.titleThe UK code of corporate governance: link between compliance and firm performanceen_UK
dc.typeWorking Paperen_UK

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