Impacts of corporate governance on firm performance - Empirical studies of listed Singaporean companies

Abstract: This study aims to investigate the relationship between corporate governance and financial performance of listed Singaporean companies. We collect the data from 137 listed companies for the period of four years from 2013 to 2016. In this research, corporate governance is driven by a wide range of variables, which include the dual role CEO, board size and board independence. Besides, the financial performance is measured by three different methods, which include return on asset, return on equity and Tobin’s Q. Our findings show that there is an inverse association between board size and firm performance, however, we do not find any significant relationships between board dependence, CEO duality and company financial performance.