Publicação
Corporate governance and financial health : evidence from Canada
| Resumo: | This study aims to assess the relationship between corporate governance and financial health of Canadian publicly listed companies. The final sample is composed of 455 firm year observations of 30 unique listed companies from 2002 to 2022, these are listed in several stock exchanges based in Canada. The study utilizes a revised version of the Altman Z-Score as a metric to assess financial distress, considering its widely recognized predictive power. Results suggest that corporate governance may play a role in shaping the financial health and performance of companies. Specifically, board size and independence of the board, as well as the association between the two independent variables. Findings of this study have important implications for Canadian regulators, policymakers, and practitioners in enhancing corporate governance practices and mitigating the risks associated with financial distress. |
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| Autores principais: | Silva, Melissa Lopes |
| Assunto: | Financial distress Probability of Default Canada Board of Directors Cash Flow ratio Z-Score Pressão financeira Probabilidade de Falência Canada Conselho de Administração Fluxo de caixa Z-Score |
| Ano: | 2023 |
| País: | Portugal |
| Tipo de documento: | dissertação de mestrado |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório da Universidade de Lisboa |
| Resumo: | This study aims to assess the relationship between corporate governance and financial health of Canadian publicly listed companies. The final sample is composed of 455 firm year observations of 30 unique listed companies from 2002 to 2022, these are listed in several stock exchanges based in Canada. The study utilizes a revised version of the Altman Z-Score as a metric to assess financial distress, considering its widely recognized predictive power. Results suggest that corporate governance may play a role in shaping the financial health and performance of companies. Specifically, board size and independence of the board, as well as the association between the two independent variables. Findings of this study have important implications for Canadian regulators, policymakers, and practitioners in enhancing corporate governance practices and mitigating the risks associated with financial distress. |
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