One of the most important sectors in the economy of each country is the Capital Market. Accordingly, efficient financial systems can cause economic development via attaining information about accumulation and equipment of savings, supervising investments, and adopting the corporate governance. The financial system of a country consists of different markets as well as financial instruments and products; therefore, in the present study, by investigating appropriate governance indices on the performance of stock market for 132 selected developing countries from 2000-2010 using utilizing the panel data method and the generalized method of moments (GMM). The results of the present study indicated that the good governance indices are .among parts of factors affecting the performance of stock market
کلید واژگان :
good governance, stock market, the generalized method of moments
