Beta-convergence and sigma-convergence in corporate governance in Europe

Pedro Verga Matos and Horácio Faustino ()

Economic Modelling, 2012, vol. 29, issue 6, 2198-2204

Abstract: This paper tests for beta-convergence and sigma-convergence in the corporate governance models, using a sample of corporate governance ratings for 198 European corporations listed on the FTSE Eurofirst 300 index. A piecewise linear regression is deployed to select a model and the Poisson pseudo-maximum likelihood estimator is also applied to estimate an exponential model. It concludes that there is statistical evidence of beta- and sigma-convergence within countries and the results suggest that institutional differences between countries are statistically relevant.

Keywords: Corporate governance; Beta-convergence; Sigma-convergence; Ratings (search for similar items in EconPapers)
JEL-codes: C12 F43 G30 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:29:y:2012:i:6:p:2198-2204

DOI: 10.1016/j.econmod.2012.07.004

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