The DOI matches its Crossref record; 38 of the 38 references it cites were found in a registry or an index.
Internal and External Governance Mechanisms: Their Impact on the Performance of Large UK Public Companies
Open accessAbstract
This paper analyses the relationship between internal and external corporate governance mechanisms and the performance of UK companies within the context of the Cadbury Committee’s Code of Best Practice. The results show, first, that the market for corporate control is an effective governance mechanism that may be regarded as a substitute for the other mechanisms. Second, there is a weak relationship between the internal governance mechanisms and performance. Third, there is also little evidence that with firms in the top and bottom performance deciles have different internal governance characteristics. The results therefore raise questions about the efficacy of imposing prescriptive internal governance mechanisms on companies, particularly given that the market for corporate control has been shown to be an effective means of reducing agency costs.
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Cites
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Cited by
Ownership structure, board of directors and firm performance: evidence from Taiwan
Kao, M.-F., Hodgkinson, L., & Jaafar, A. (2019) · Corporate Governance: The International Journal of Business in Society · doi:10.1108/cg-04-2018-0144 · Cited by 389
Corporate Governance Codes: A Review and Research Agenda
Cuomo, F., Mallin, C., & Zattoni, A. (2016) · Corporate Governance: An International Review · doi:10.1111/corg.12148 · Cited by 259
Accountability and corporate governance of public private partnerships
Shaoul, J., Stafford, A., & Stapleton, P. (2012) · Critical Perspectives on Accounting · doi:10.1016/j.cpa.2011.12.006 · Cited by 241
Corporate Governance and Involuntary Delisting: Empirical Evidence from China
Malik, M. N., Xinping, X., & Shabbir, R. (2014) · International Journal of Economics and Finance · doi:10.5539/ijef.v6n6p247 · Cited by 8
Metadata
- Authors
- Weir, C., Laing, D., & McKnight, P. J.
- Venue
- Journal of Business Finance & Accounting
- Publisher
- Wiley
- Published
- 2002-01
- Volume
- 29
- Issue
- 5-6
- Pages
- 579-611
- ISSN
- 0306-686X (ISSN-L)
- 1468-5957
- OpenAlex
- W1996434806
- Cited by
- 554
- References
- 38
- FWCI
- 20.86
- Type
- journal article
- Language
- en
- Open access
- green
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- Weir, C., Laing, D., & McKnight, P. J. (2002). Internal and External Governance Mechanisms: Their Impact on the Performance of Large UK Public Companies. Journal of Business Finance & Accounting. https://doi.org/10.1111/1468-5957.00444
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
