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Title: Does Competition Matter for Corporate Governance? The Role of Country Characteristics
Authors: Cosset, Jean-Claude
Somé, Hyacinthe Y.
Valéry, Pascale
Keywords: Product Market Competition
Corporate Governance
Economic and Financial Development
Investor Protection
Issue Date: 2012-10
Series/Report no.: Cahiers du CIRPÉE;12-38
Abstract: 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.
URI: https://depot.erudit.org/id/003711dd
Appears in Collections:Cahiers de recherche du CIRPÉE

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