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| Author: | Weir, C. Laing, D. McKnight, P. J. |
| Title: | Internal and external governance mechanisms: their impact on the performance of large UK public companies |
| Journal: | Journal of Business Finance and Accounting
2002 : JUN-JUL, VOL. 29:5-6, p. 579-611 |
| Index terms: | Financial accounting Corporate governance Company control United KIngdom |
| Language: | eng |
| Abstract: | The authors analyse the relationship between internal and external corporate governance mechanisms and the performance of United Kingdom 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 subsitute for the other mechanism. Second, There is a weak relationsip between the internal governance mechanisms and performance. Third, there is also little evidence that with firms in the top and bottom performanmce deciles have different internal governance characteristics. |
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