IMPACT OF INTERNAL GOVERNANCE MECHANISMS ON THE IPO LONG TERM PERFORMANCE
IMPACT OF INTERNAL GOVERNANCE MECHANISMS ON THE IPO LONG TERM PERFORMANCE
Author(s): Mediha MEZHOUD, Adel BOUBAKERSubject(s): Business Economy / Management, Governance, Economic history, Transformation Period (1990 - 2010)
Published by: Editura Universităţii »Alexandru Ioan Cuza« din Iaşi
Keywords: Ownership Structure; Board of directors; IPO performance; CARs; BHARs;
Summary/Abstract: Our work provides an analysis of the role of internal mechanisms of governance in explaining the long run performance after IPO. Our study examined a sample of 85 IPO French companies, between 2005-2008. Our results show that the governance structure before the IPO does not affect very significantly the performance of IPOs French companies. Thus, we found the neutrality of the relationship between board independence and long-term performance. Our work contributes to develop these reports given the paucity of studies that led to find relationships between the mechanisms of governance and stock market performance during the years following the IPO.
Journal: Review of Economic and Business Studies (REBS)
- Issue Year: 2012
- Issue No: 10
- Page Range: 129-146
- Page Count: 18
- Language: English
