Empirical analysis of the relations between corporate governance structures and corporate performance and valuation of companies listed on the Warsaw Stock Exchange

Corporate governance has aroused wide interest among scientists, managers and decision-makers in recent years. Having faced the crisis of confidence in the international capital markets after Enron collapse and other financial scandals, many initiatives were put into force started in order to strengthen  corporate governance, including amendments to widely applied regulations and to self-regulatory mechanisms, such as codes of best practice. Such initiatives were launched also in Poland, deriving both from the global tendencies and from the country-specific corporate governance frictions between controlling shareholders and minority shareholders which were observed in the late 90s. However, any improvement of corporate governance, and through self-regulatory mechanisms in particular, requires belief that these initiatives would benefit investors and issuers. Thus, , the paper analyses relations between corporate governance structures and corporate performance as well as fine value of companies listed on the Warsaw Stock Exchange. We also scrutinize the progress of the corporate governance solutions in those companies.

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