Directors characteristics and stock market performance in Canada

Michel Sayumwe, Boudjemaa Amroune

Abstract


We examine the effect of the characteristics of board of directors on the stock market performance in Canadian settings. Our sample includes fifty of the largest corporations listed on the Toronto Stock Exchange at the end of December 2013 for the period of 2009 to 2013 for the sub-groups of S&P/TSX Composite Index-60. Our results show that the size of the board, remuneration of directors and disclosure of financial information in terms of book value per share and earnings per share, contribute to market performance of firms in S&P/TSX Composite Index-60 listing. 


Keywords


Board of directors; Market performance; Toronto Stock Exchange.

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DOI: http://dx.doi.org/10.18533/jefs.v5i01.176

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