2026-06-26T11:08:48Zhttps://docta.ucm.es/rest/oai/request

oai:docta.ucm.es:20.500.14352/190352026-01-12T10:01:43Zcom_20.500.14352_14col_20.500.14352_15

López-Quesada Martín, Erika Ana Camacho Miñano, Juana María Del Mar Idowu, Samuel 2023-06-17T23:55:51Z 2023-06-17T23:55:51Z 2018 1472-0701 10.1108/CG-01-2017-0011 https://hdl.handle.net/20.500.14352/19035 https://doi.org/10.1108/CG-01-2017-0011 Purpose – The purpose of this paper is to analyze the effect of corporate governance practices on firms’ financial performance, as measured by comprehensive income (CI). Design/methodology/approach – Using a sample of 237 firms from the Standards & Poor (S&P) 500 index during the years 2004-2009, multivariate statistical analyses are conducted to confirm the authors’ main hypothesis. Findings – The results indicate that having high levels of corporate governance culture has a positive impact on a measure of firms’ financial performance, namely, CI. Furthermore, they indicate a positive correlation between a higher percentage of external directors and financial performance, and a negative relationship between number of board meetings and financial performance. Originality/value – The main contribution of this research is that good corporate governance strategies deliver superior financial performance for businesses in terms of CI. This serves as a method of value creation, which is the ultimate goal of a business. In addition to the use of CI as an indicator of financial performance, a unique measure of corporate governance level is tested. eng open access Corporate governance practices and comprehensive income journal article