Author : Stijn Claessens
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4./5 ( download)
Book Synopsis Corporate governance and regulation : can there be too much of a good thing? by : Stijn Claessens
Download or read book Corporate governance and regulation : can there be too much of a good thing? written by Stijn Claessens and published by World Bank Publications. This book was released on 2007 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: For a large number of companies from different countries, the authors analyze how company corporate governance practices and country regulatory regimes interact in terms of company valuation. They confirm that corporate governance plays a crucial role in efficient company monitoring and shareholder protection, and consequently positively impacts valuation. They find substitution in valuation impact between corporate governance measures at the company and country level, with a possibility of over-regulation. Corporate governance appears more valuable for companies that rely heavily on external financing, consistent with the hypothesis that the main role of corporate governance is to protect external financiers.