Corporate governance,financial management decisions and firm performance: Evidence from the maritime industry |
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| Affiliation: | 1. Faculty of Business Administration, Hamburg University, Moorweidenstraße 18, 20148 Hamburg, Germany;2. Cass Business School, City, University of London, 106 Bunhill Row, London EC1Y 8TZ, United Kingdom;1. Hamburg Business School, University of Hamburg and Hamburg Financial Research Center, Von-Melle-Park 5, 20146 Hamburg, Germany;2. VR Leasing, Hauptstraße 131-137, 65760 Eschborn, Germany;1. Department of Management Sciences, COMSATS Institute of Information Technology, Lahore, Pakistan;2. Government SCW University, Bahawalpur, Pakistan |
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| Abstract: | This study investigates the relation between corporate governance with (i) financial management decisions such as earnings management and sub-optimal investment, and (ii) firm performance in maritime firms. The study reveals that important corporate governance measures, such as insider ownership, board size, presence of corporate governance committees, the percentage of directors serving on the boards of other firms and CEO duality, are associated with financial management decisions and firm performance. The associations revealed can potentially assist in mitigating agency problems and improving financial management decisions and performance in maritime firms. |
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| Keywords: | Maritime firms Corporate governance Earnings management Sub-optimal investment Firm performance |
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