What is the Relation (if any) Between a Firm's Corporate Governance Arrangements and its Financial Performance?

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Wessels, Roberto E.; Wansbeek, Tom J.;
  • Publisher: Center for Economic Studies and Ifo Institute (CESifo) Munich
  • Subject: C38 | G34 | L20 | M52 | corporate governance | firm behavior | hypothesis testing | errors in variables
    • ddc: ddc:330

This paper presents estimates from a latent variables model of the relation between corporate governance and financial performance. We use data on large US corporations to estimate the correlation, conditional on the firms' investment opportunity set, between governance... View more
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