Title: Towards the implementation of corporate governance best practices for Tunisian listed firms: an empirical approach using the artificial neuronal networks
Authors: Wided Khiari; Azhaar Lajmi
Addresses: Department of Finance and Accounting, Higher Institute of Management, Tunisia ' Department of Finance and Accounting, Higher Institute of Management, Tunisia
Abstract: The object of this study is to propose a code allowing the assessment of some corporate governance best practices for Tunisian listed firms. This code is based on the most reputable set of codes of good governance practices worldwide and on the point of view of a sample of Tunisian experts. This code is presented as a potential tool that measures the quality of some corporate governance characteristics, such as board of directors and its committees, transparency and information policy, directors' compensation and entrenchment, and ownership structure. Using a questionnaire distributed to a sample of Tunisian experts (about 102 experts) and referring to a new approach based on the artificial neural networks, this study allowed us first, to identify the importance given by the experts to a number of criteria in assessing corporate governance of Tunisian listed firms, and second, to create consensus among experts on the values that should take the different criteria in order to achieve good governance.
Keywords: corporate governance; referential; neuronal connections; Tunisian firms; best practices.
African Journal of Accounting, Auditing and Finance, 2018 Vol.6 No.1, pp.21 - 42
Received: 05 Jan 2017
Accepted: 15 Jun 2017
Published online: 06 Apr 2018 *