GOVERNANCE RISKS. How to measure them by means of the incremental cash-flow model

Rodolfo Apreda

No 467, CEMA Working Papers: Serie Documentos de Trabajo. from Universidad del CEMA

Abstract: Governance risks stem from the own governance of any organization. The paper puts forward an operational viewpoint of those risks, by mapping the most distinctive categories of governance analysis onto time-dependent governance variables. Afterwards, risks conveyed by the latter are measured against incremental cash flows. The procedure allows a joint analysis of the risky positions carried out by governance variables, tracking them down onto their natural drivers, the incremental cash flows related to assets, creditors, managers, stockholders, and the company’s portfolio of non-current financial assets

Keywords: governance risks; corporate governance; incremental cash flows; governance variables (search for similar items in EconPapers)
JEL-codes: G32 G34 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2011-11
New Economics Papers: this item is included in nep-bec and nep-ppm
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Persistent link: https://EconPapers.repec.org/RePEc:cem:doctra:467

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