The Effects of Macroeconomic Factors, Firm-Specific Characteristics, and Corporate Governance Mechanisms on Financial Performance: Evidence from the Egyptian Exchange
摘要
This chapter examines the effects of macroeconomic factors, firm-specific characteristics, and corporate governance mechanisms on the financial performance of nonfinancial companies listed on the Egyptian Exchange. The study uses a sample of 40 companies from the EGX100 index between 2016 and 2022. The findings reveal that inflation, company size, and CEO duality have a significant positive impact on financial performance, while board size demonstrates a significant negative impact. The influence of company age, company growth, and board independence on financial performance shows varied outcomes. However, interest rate and exchange rate do not exhibit statistically significant relationships with financial performance. These results provide valuable insights for investors, regulators, and company management seeking to understand the factors driving financial performance in the Egyptian market.