The main variables in the analysis of corporate governance procedures

Corporate governance is a set of decisions, procedures and practices that ensure the most effective management of large companies and the achievement of financial and non-financial goals. The study of the effectiveness of corporate governance for large samples of companies is conducted using statistical methods, which requires clearly defining which variables should be used and, accordingly, which data should be collected. The purpose of this article is to review the variables used in the academic literature on the effectiveness of corporate governance. In particular, five main groups of variables related to: the characteristics of the CEO and other directors; the structure of the board of directors; the structure and types of shareholders; the income of directors; committees within the board of directors and the quality of the audit are considered.