Corporate governance: a review of the literature

Jorge Farinha ()
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Jorge Farinha: CETE, Faculdade de Economia, Universidade do Porto

CEF.UP Working Papers from Universidade do Porto, Faculdade de Economia do Porto

Abstract: This paper reviews the theoretical and empirical literature on the nature and consequences of the corporate governance problem, providing some guidance on the major points of consensus and dissent among researchers on this issue. Also analysed is the effectiveness of a set of external and internal disciplining mechanisms in providing a solution for the corporate governance problem. Apart from this, particular emphases are given to the special conflicts arising from the relationship between managers and shareholders in companies with large ownership diffusion, the issue of managerial entrenchment and the link between firm value and corporate governance.

Keywords: agency theory; corporate governance; ownership structure (search for similar items in EconPapers)
JEL-codes: G30 (search for similar items in EconPapers)
Pages: 73 pages
Date: 2003-04
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:por:cetedp:0306

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