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

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.