Does superior governance still lead to better financial performance资料.doc

文档介绍：Does superior governance still lead to better financial performance?
In the next reading, accounting professor Curtis Verschoor asks the question, "Does superior governance still lead to better financial performance?" He points out that changes in . sentencing guidelines for corporations have put a premium on having active ethics pliance programs. (The guidelines treat having such programs as mitigating conditions when imposing sentences on corporations.) In the United States, many of these corporations have ethics officers in charge of their ethics pliance programs. The best recognized association of such officers is the Ethics Officer Association (EOA).
Verschoor seeks an answer to his question about the correlation of ethical governance with financial performance by looking at panies with Market Value Added (MVA) are highly likely to have ethics officers in the EOA. Verschoor says an analysis of the MVA/EOA correlation over the past five years shows that there was a high correlation between MVA as a measure of financial performance and EO