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The Recent Corporate Governance Code and Company Performance: CEO Tenure as a Moderator

Ahmad A. Toumeh

Australasian Accounting Business and Finance Journal2025https://doi.org/10.14453/aabfj.v19i3.09article
AJG 1ABDC B
Weight
0.41

Abstract

This study aims to discern the impacts of the presence of governance committee (GC) and risk management committee (RMC) on company performance, as measured by return on assets (ROA), return on equity (ROE), and Tobin’s Q. Also, it assesses how CEO tenure moderates the influence of these board committees. The sample consists of all non-financial companies listed on the Amman Stock Exchange (ASE) during 2018-2022, totalling 320 firm-year observations. The current research implements multivariate panel data regression techniques for hypotheses testing. The findings reveals positive and significant associations between GC and RMC with company performance proxies, which means that the new Corporate Governance Code (CGC) issued in 2017 contributes to increase the performance of the listed firms on ASE. In addition, the present study furnishes conclusive evidence that, in the context of Jordan, the duration of CEO tenure weakens the positive nexus between CG, RMC, and firm performance. The practical insights gleaned from the findings have substantial policy implications for government agencies, policymakers, board members, public corporation executives, and shareholders. According to the best of author’s knowledge, this study represents the initial empirical exploration in Jordan that investigates the impacts of GC and RMC on firm performance, alongside the moderating influence of CEO tenure.

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https://doi.org/https://doi.org/10.14453/aabfj.v19i3.09

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@article{ahmad2025,
  title        = {{The Recent Corporate Governance Code and Company Performance: CEO Tenure as a Moderator}},
  author       = {Ahmad A. Toumeh},
  journal      = {Australasian Accounting Business and Finance Journal},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.14453/aabfj.v19i3.09},
}

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The Recent Corporate Governance Code and Company Performance: CEO Tenure as a Moderator

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Evidence weight

0.41

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.25 × 0.4 = 0.10
M · momentum0.55 × 0.15 = 0.08
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.