Language:
English
Pages:
Online-Ressource (1 online resource (50 p.))
Edition:
Online-Ausg. World Bank E-Library Archive
Parallel Title:
Bruno, Valentina G Corporate Governance And Regulation
Keywords:
Capital Markets
;
Company Behavior
;
Corporate Governance
;
Corporate Governance Regime
;
Corporate Law
;
Debt Markets
;
Economic Policy, Institutions and Governance
;
Emerging Markets
;
Exchange
;
External Financing
;
Finance and Financial Sector Development
;
Financial Markets
;
Governance
;
Governance
;
Governance Indicators
;
Governance Measures
;
Governance Practice
;
Governance and Financial Sector
;
Law and Development
;
Macroeconomics and Economic Growth
;
Microfinance
;
National Governance
;
Private Sector Development
;
Public Sector Development
;
Small Sector
;
Capital Markets
;
Company Behavior
;
Corporate Governance
;
Corporate Governance Regime
;
Corporate Law
;
Debt Markets
;
Economic Policy, Institutions and Governance
;
Emerging Markets
;
Exchange
;
External Financing
;
Finance and Financial Sector Development
;
Financial Markets
;
Governance
;
Governance
;
Governance Indicators
;
Governance Measures
;
Governance Practice
;
Governance and Financial Sector
;
Law and Development
;
Macroeconomics and Economic Growth
;
Microfinance
;
National Governance
;
Private Sector Development
;
Public Sector Development
;
Small Sector
;
Capital Markets
;
Company Behavior
;
Corporate Governance
;
Corporate Governance Regime
;
Corporate Law
;
Debt Markets
;
Economic Policy, Institutions and Governance
;
Emerging Markets
;
Exchange
;
External Financing
;
Finance and Financial Sector Development
;
Financial Markets
;
Governance
;
Governance
;
Governance Indicators
;
Governance Measures
;
Governance Practice
;
Governance and Financial Sector
;
Law and Development
;
Macroeconomics and Economic Growth
;
Microfinance
;
National Governance
;
Private Sector Development
;
Public Sector Development
;
Small Sector
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
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