هاریم عبدالله - Accounting Department, University of Sulaimani, Sulaimani, Kurdistan
تورگوت `تورسوی - Head of Banking and Finance Department, Near East University, Nicosia, North Cyprus, Turkey

Despite the vast literature, the relationship between corporate governance and firm performance is hotly debated in the research field of corporate finance. This study examined the effect of Corporate Governance (GC) on the performance of firms in non-financial sectors listed on the Frankfort Stock Exchange in Germany over the period ۲۰۰۲-۲۰۱۸. To this end, we measured firm performance based on accounting data, using ROA and ROE. The results provided evidence that the characteristics of the audit committee and board of directors have significant and negative effects on firm financial performance, whereas the effect of CEO duality is not statistically significant. Large board size could bring about the issue of deferred decision making by the board members in the insider-controlled CG system of Germany. Furthermore, IFRS adoption in ۲۰۰۵ was found to have a positive effect on firm performance. These results can raise considerable interest in managers and shareholders, precisely when they prioritize the financial performance of their companies.

Corporate governance, Audit committee, Board of directors, Financial performance, IFRS, shareholder-oriented system