PhD Proposal (Corporate Governance and Financial Performance )
Corporate Governance and Financial Performance
The present study will investigate the corporate governance reforms in Pakistan by using both quantitative and qualitative method. After the publication of Pakistan Corporate Governance Code (CGC) in March, 2002 by Security and Exchange Commission of Pakistan (SECP), Pakistan has followed corporate governance reforms that also include recent reform in 2012. The present study will try to explore corporate governance reforms by providing new insights. In Pakistan, the level of compliance and disclosure of corporate governance provisions will be measure by using integrated research design. The study will also determine whether the introduction of corporate governance code has abetted in development of corporate governance standards in Pakistani context. The determinants of corporate governance disclosure among Pakistani listed firms will be measured. The present study will also investigate the association between a number of individual corporate governance mechanisms and financial performance in listed firms of Pakistan. This study will also analyze the relationship between compliance of corporate governance code and financial performance by employing the board composite corporate governance index. At the end, this study will also explore the level of appreciation and awareness of good corporate governance practices among key internal and external stakeholders in Pakistan. This study will use mixed method approach by applying both quantitative and qualitative method. The appreciation and awareness of corporate governance practices among key stakeholders will be explored by using qualitative research methodology. The motivation behind using mixed method is the lack and recent call for mixed methods in corporate governance. The mixed methods approach will seek to provide comprehensive understanding of effects of corporate governance reforms on disclosure and performance. The study will used balanced data of 100 listed Pakistani firms from 2008 to 2014. This will generate a total of 700 observations. The study will contribute by showing how the findings from quantitative and qualitative data can be integrated to examine corporate governance behavior using mixed-methods research design. Finally, the findings of this study will contribute to the extant literature by assessing corporate governance reforms for policy-makers and regulatory bodies.
Keywords: Corporate Governance, Financial Performance, Voluntary Disclosure, SECP, Pakistan, Mixed Methods