CORPORATE GOVERNANCE AND FIRM PERFORMANCE: THE ROMANIAN CASE
CORPORATE GOVERNANCE AND FIRM PERFORMANCE: THE ROMANIAN CASE

Summary/Abstract: This paper examines the impact of board characteristics (board size, CEO duality, board diversity-gender and age and board meetings) as corporate governance variables on organizational performance. Based on the existing literature we developed five hypotheses in order to analyze the relationship between board characteristics and organizational performance. Our results show a significant and negative impact of board size on firm performance which validates our first hypothesis. The second hypothesis is validated only when ROE is used as a performance measure. The third hypothesis (H3) and fourth hypothesis (H4) are not validated for neither of the two models which means that gender and age diversity do not have a significant impact on the financial results of the sampled firms. The last hypothesis is validated only when ROE is used to measure the firm performance

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