Corporate governance, value and performance of firms: New empirical results on convergence from a large international database

Jackie Krafft, Yiping Qu, Francesco Quatraro and Jacques-Laurent Ravix ()
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Yiping Qu: GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur

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Abstract: This paper aims to revisit the link between corporate governance, value, and firm performance by focusing on convergence, understood as the way that non-US firms are adopting US best practice in terms of corporate governance, and the implications of this adoption. We examine theoretical questions related to conventional models (agency theory, transaction cost economics, new property rights theory),which tend to suggest rational adoption of best practice, and contributions that alternatively consider country- and firm-level differences as possible barriers to convergence. We contribute to the empirical literature by using a large international database to show how non-US firms' adoption of US best practice is having an impact on performance.

Keywords: Corporate governance; governance metrics; ratings; rankings and scoring; firm value; firm performance (search for similar items in EconPapers)
Date: 2013
New Economics Papers: this item is included in nep-bec, nep-cdm, nep-cse, nep-eff and nep-hme
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00786763
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Citations: View citations in EconPapers (6)

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Journal Article: Corporate governance, value and performance of firms: new empirical results on convergence from a large international database (2014)
Working Paper: Corporate governance, value and performance of firms: New empirical results on convergence from a large international database (2014)
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