英国公司治理与公司财务绩效
Corporate Governance and Firms Financial Performance in the United Kingdom
摘要：
本研究的目的是实证检验良好的公司治理对英国非金融上市公司财务业绩的影响。代理理论和管家理论作为一个概念模型的基础。本研究以资产报酬率（ROA）与托宾Q值（Tobin's Q）为财务绩效指标，运用横截面回归分析法，探讨五种公司治理机制。通过对252家伦敦证券交易所上市公司2014年度的实证检验，得出了公司治理机制对财务绩效的影响既有正向关系，也有负向关系，但有时没有影响的结论。的影响进行了讨论。因此，如此区分由于原因的影响，我们提出了一个证据，当正确的公司治理机制的选择，一个公司的财务状况可以得到改善。本研究结果对学术界及政策制定者有一定的启示意义。
英文摘要：
The objective of this study is to examine empirically the impact of good corporate governance on financial performance of United Kingdom non-financial listed firms. Agency theory and stewardship theory serve as the bases of a conceptual model. Five corporate governance mechanisms are examined on two financial performance indicators, return on assets (ROA) and Tobin's Q, employing cross-sectional regression methodology. The conclusion drawn from empirical test so performed on 252 firms listed on London Stock Exchange for the year 2014 indicates a positive or a negative relationship, but also sometimes no effect, of corporate governance mechanisms impact on financial performance. The implications are discussed. Thereby, so distinguishing effects due to causes, we present a proof that, when the right corporate governance mechanisms are chosen, the finances of a firm can be improved. The results of this research should have some implication on academia and policy makers thoughts.
机构、总结、中文摘要均由AI分析而来，可能存在错误，请以论文正文为准。
