Cosset, Jean-Claude
[Verfasser:in]
;
Somé, Hyacinthe Y.
[Sonstige Person, Familie und Körperschaft];
Valéry, Pascale
[Sonstige Person, Familie und Körperschaft]
Does Competition Matter for Corporate Governance? The Role of Country Characteristics
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments October 17, 2012 erstellt
Beschreibung:
We investigate the empirical relation between competition and corporate governance and the effect of country characteristics on this relation. We find that competition is associated with strong corporate governance, but only in less developed countries. We next examine the impact of corporate governance on firm value given the level of competition. We find that competition and corporate governance appear to be complements in explaining firm value in developing countries, while in developed countries they are substitutes