Efficiency of the firms and corporate governance : evidence from Casablanca stock exchange

Dissertant

Iraqi, Khadijah

Thesis advisor

Aguenaou, Samir
Abrashi, Jawad

University

Al Akhawayn University

Faculty

The School of Business Administration

University Country

Morocco

Degree

Master

Degree Date

2012

English Abstract

In an emerging financial market such as the Casablanca Stock Exchange (CSE) investors and debtors lack indicators about the degree of efficiency of the stocks listed in the market.

Data Envelopment Analysis (DEA) is among the methods that have been suggested in recent years to measure efficiency in terms of transformation of inputs (assets) into outputs (value).

In this first part of this paper, DEA is used in order to measure the technical efficiency of 39 individual non-financial Moroccan firms listed in the CSE.

The efficiency indicators are computed based on data covering the period 2008- 2011, using various financial indicators and ratios listed in the literature as inputs and outputs.

While in the second part, the paper analyze the impact of the corporate governance mechanisms over the efficiency previously measured through a binary logistic regression where the independent variables are the ownership concentration, the type of ownership, choice of auditors and the dividend policy during the same period of time.

Main Subjects

Business Administration

No. of Pages

30

Table of Contents

• APA
• MLA
• AMA

Language

English

Data Type

Arab Theses

Record ID

BIM-628267