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| Tekijä: | Doidge, C. Karolyi, G.A. Stulz, R.M. |
| Otsikko: | Why do countries matter so much for corporate governance? |
| Lehti: | Journal of Financial Economics
2007 : OCT, VOL. 86:1, p. 1-39 |
| Asiasana: | economic development corporate governance finance globalization international models |
| Kieli: | eng |
| Tiivistelmä: | In this paper, developed and tested is a model of how country characteristics (here as: c-chars.), e.g. legal protections for minority investors and the level of economic and financial development, influence firms' costs and benefits in implementing measures to improve their own governance and transparency. It is found among others that c-chars. explain much more of the variance in governance ratings than observable firm characteristics etc. |
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