Corporate governance and debt securities issued in Brazil and India: A multi-case study

Thiago Avila Marques, Karem Cristina de Sousa Ribeiro and Flavio Barboza

Research in International Business and Finance, 2018, vol. 45, issue C, 257-270

Abstract: The corporate debt market tends to provide a funding alternative, but requires improvements in regulation and self-regulation. Therefore, corporate governance arises as a central element for reducing agency conflicts, and private debt market development. We analyze the corporate governance structure of debt issuers from Brazil and India through an index of Economic Commission for Latin America and the Caribbean (ECLAC). The results showed that the non-defaulted companies had higher scores and the corporate governance quality of the issuer tends to contribute to the fulfillment of its obligations.

Keywords: Corporate governance; ECLAC index; Brazil; India (search for similar items in EconPapers)
JEL-codes: G32 G34 L21 L25 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:45:y:2018:i:c:p:257-270

DOI: 10.1016/j.ribaf.2017.07.156

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