Abstract

MEJIA, Diego Andrés Correa; CASTANO, Juan David Quintero; OROZCO, Sebastián Gómez  and  CASTRO, Cristian Mauricio Castro. Corporative Governance, a Pillar for Financial Performance. rev.univ.empresa [online]. 2020, vol.22, n.38, pp.40-64. ISSN 0124-4639.  https://doi.org/10.12804/revistas.urosario.edu.co/empresa/a.6975.

The corporative governance mechanism has solved existing problems between the interests of organizations' managers and their stakeholders, which discloses real financial information by management. This paper is to analyze the organizations' financial performance impact of corporative governance through the financial information presented by the companies listed on the Colombian stock exchange and their profitability indicators. With the recollected information a data panel was developed, which allowed identifying a positive relationship between corporative governance and financial performance. The conclusion drawn from the analysis is that corporate governance allows strengthening the financial performance of companies as it is a strategy that attracts new investors and supports minority ones.

Keywords : Corporative Governance; Financial Performance; Directive Board; Stakeholders.

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