A New Latent Class Stochastic Frontier Model for the Best Practices ofUSA＇s Corporate Governance  

作　　者：Wided Khiari Yosra Mellouli 

机构地区：[1]University of Jendouba, Jendouba, Tunisia

出　　处：《Journal of Modern Accounting and Auditing》2013年第5期719-727,共9页现代会计与审计（英文版）

摘　　要：In this paper, the authors study the association between firms＇ specific characteristics and performances for a sample of 320 American firms using a governance efficiency index, calculated by the stochastic frontier analysis. The use of a latent class in the specification of the model, allowed detecting two groups of firms according to their specific characteristics： the firm size, the leverage, the dividend yield, and the return on equity （ROE）. The results of affectation equation show that the probability to be in the second group （the most efficient） is more important when the firm size, the dividend yield, and the ROE are high, while a high leverage level decreases the chance to be in the first group （the less efficient）.

关 键 词：governance index managerial efficiency PERFORMANCE corporate governance mechanisms stochasticfrontier 

分 类 号：TP391.72[自动化与计算机技术—计算机应用技术] F271[自动化与计算机技术—计算机科学与技术]