THE IMPACT OF GOOD CORPORATE GOVERNANCE PRACTICES ON STAKEHOLDER’S SATISFACTION IN TUNISIAN LISTED COMPANIES

Year 2012, Volume: 4 Issue: 2, 187 - 199, 01.12.2012

Wajdi Ben Rejeb Mohamed Frioui

Abstract

This research deals with the contribution of good governance practices to
stakeholder’s satisfaction. The aim of this paper is to demonstrate that the good
governance practices are a driver of stakeholder’s satisfaction and therefore a
factor of a sustainable competitive advantage development in the developing
economies that do not have active markets and sound external institutions with the
power to establish good corporate governance practices.
The literature review provides core references related to the the good corporate
governance conceptualization through three dimensions: Prerequisites
(Governance structures and Directors’ skills), Principles
(Responsibility, Accountability, Fairness and Transparency) and Mission (board
monitoring and strategic guidance). The survey of 52 Tunisian listed companies
revealed that the corporate governance have a positive and partial impact on
stakeholder’s satisfaction.

Keywords

Good corporate governance, stakeholder’s satisfaction, Tunisia

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