THE IMPACT OF GOOD CORPORATE GOVERNANCE PRACTICES ON STAKEHOLDER’S SATISFACTION IN TUNISIAN LISTED COMPANIES

Abstract

This research deals with the contribution of good governance practices to stakeholder’s satisfaction. The aim of this paper is to demonstrate that the good governance practices are a driver of stakeholder’s satisfaction and therefore a factor of a sustainable competitive advantage development in the developing economies that do not have active markets and sound external institutions with the power to establish good corporate governance practices. The literature review provides core references related to the the good corporate governance conceptualization through three dimensions: Prerequisites (Governance structures and Directors’ skills), Principles (Responsibility, Accountability, Fairness and Transparency) and Mission (board monitoring and strategic guidance). The survey of 52 Tunisian listed companies revealed that the corporate governance have a positive and partial impact on stakeholder’s satisfaction.