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  • Key Words: Corporate Governance, Performance, Valuation, Tobin Q, Board Size and

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    Rameshwar Acharya
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    Using an OLS regression model, this study examined the relationship between corporate governance factors and firm valuation in Nepal over two years. It found a significant positive relationship between board size and firm value, as well as a positive impact of CEO duality on valuation. Independent directors had no role in value creation, and the existence of an audit committee was not significant in creating value. These results raise questions about the roles of expert directors and audit committee chairs in Nepalese firms.

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    Using an OLS regression model, this study examined the relationship between corporate governance factors and firm valuation in Nepal over two years. It found a significant positive relationship between board size and firm value, as well as a positive impact of CEO duality on valuation. Independent directors had no role in value creation, and the existence of an audit committee was not significant in creating value. These results raise questions about the roles of expert directors and audit committee chairs in Nepalese firms.

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    7 views1 page

    Key Words: Corporate Governance, Performance, Valuation, Tobin Q, Board Size and

    Uploaded by

    Rameshwar Acharya
    Using an OLS regression model, this study examined the relationship between corporate governance factors and firm valuation in Nepal over two years. It found a significant positive relationship between board size and firm value, as well as a positive impact of CEO duality on valuation. Independent directors had no role in value creation, and the existence of an audit committee was not significant in creating value. These results raise questions about the roles of expert directors and audit committee chairs in Nepalese firms.

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    © All Rights Reserved
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    Abstract

    Using the OLS regression model, this study explores the relationship between corporate
    governance and firm valuation in Nepal. Board size and independence, CEO duality and
    existence of audit committee as corporate governance variables and Tobin Q as performance
    variable for valuation measure of 54 listed Nepalese firms over the period 2018/19 and 2019/20
    were used in the analysis. The test shows a significant positive relationship between board size
    and firm value (Tobin Q). Similarly, this study establishes the positive impact of CEO duality on
    firm valuation. Despite literature, it also concludes that independent directors have no role in
    value creation. Finally, the finding shows that audit committee is not significant in creating
    value. These findings raise the question over the role of our expert directors and audit committee
    chairman. Both theoretical and regulatory implications of these results have also been discussed.

    Key words: Corporate governance, performance, valuation, Tobin Q, board size and
    independence, CEO duality and audit committee.

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