دور الميكانزمات الداخلية للحوكمة المؤسسية في خلق القيمة في المؤسسة : دراسة عينة مؤسسات CAC40 للفترة 2014-2016

Abstract EN

The study aims to measure the impact of corporate governance on value creation, for this purpose, an independent variable was adopted that reflects the internal governance mechanisms represented by of the board's characteristics and the structure of ownership,and the dependent variable represented by the economic value added and the Q market indicator to measure the value creation.

To achieve this objective, a sample of institutions listed in the CAC 40 index was selected for the period 2014-2016, with an attempt to use the data envelopment analysis method (DEA) to build an indicator for the governance efficiency.

The study concluded that there is no strong and statistically significant relationship between the different independent variables and any of the dependent variables.

Nonetheless, there is negative relationship between the number of committees and EVA.

The study also showed a positive and statistically significant relationship between the efficiency index of governance and the value creation expressed in EVA.Despite this, good corporate governance remains the most important guarantee for enhancing performance and for decision-makers such as stakeholders.