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Impact Of Internal Governance Mechanisms On The Ipo Long Term Performance

Author

Listed:
  • Adel BOUBAKER

    (Faculty of Science Economics and Management of Tunis,Campus Universitaire, Ennasr 2, Ariana 2037 Tunisia, +21698430378 (Phone))

  • Mediha MEZHOUD

    (aculty of Science Economics and Management of Tunis)

Abstract

Our work provides an analysis of the role of internal mechanisms of governance in explaining the long run performance after IPO. Our study examined a sample of 85 IPO French companies, between 2005-2008. Our results show that the governance structure before the IPO does not affect very significantly the performance of IPOs French companies. Thus, we found the neutrality of the relationship between board independence and long-term performance. Our work contributes to develop these reports given the paucity of studies that led to find relationships between the mechanisms of governance and stock market performance during the years following the IPO.

Suggested Citation

  • Adel BOUBAKER & Mediha MEZHOUD, 2012. "Impact Of Internal Governance Mechanisms On The Ipo Long Term Performance," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 10, pages 129-146, December.
    • Handle: RePEc:aic:revebs:y:2012:i:10:boubakera
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    More about this item

    Keywords

    Ownership structure; Board of directors; IPO performance; CARs; BHARs;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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