Impact of Corporate Governance on Value Creation: Evidence from Tunisian Context Pre- and Post-Revolution

Authors

  • Ibtissem Missaoui Higher Institute of Management of Sousse, Sousse University, LAMIDED, Tunisia Author
  • Djafferi Djamel Université Yahya Fares Medea, Faculté des Sciences Economics, Commercials et de Gestion Algérie Author

DOI:

https://doi.org/10.47363/JESMR/2025(6)282

Keywords:

Corporate Governance, Value Creation, Partnership Value, Shareholder Value, Agency Theory, Stewardship Theory

Abstract

The purpose of this study is to investigate the impact of governance mechanisms on value creation for Tunisian companies listed on the Tunis Stock Exchange from 2007 to 2016. Our findings suggest that, prior to the revolution, governance did not significantly affect value creation. However, after the revolution period, several governance factors were found to have a positive influence on value creation, with the exception of control block ownership which had a negative impact. These outcomes highlight the importance of implementing mandatory laws based on good governance principles to enhance corporate governance practices in Tunisia.

Author Biographies

  • Ibtissem Missaoui, Higher Institute of Management of Sousse, Sousse University, LAMIDED, Tunisia


    Higher Institute of Management of Sousse, Sousse University, LAMIDED, Tunisia

  • Djafferi Djamel, Université Yahya Fares Medea, Faculté des Sciences Economics, Commercials et de Gestion Algérie

    Université Yahya Fares Medea, Faculté des Sciences Economics, Commercials et de Gestion Algérie

Published

2025-04-10

Issue

Vol. 6 No. 4 (2025): Volume 6 Issue 4

Section

Articles