Corporate Governance and Performance around the World: What We Know and What We Don't

Determinants of firm value in Latin America: an analysis of firm attributes and institutional factors

“…The role of financial institutions in capital markets is to 256 serve as a middleman between saving and borrowing units by reducing the 257 transaction costs. Financial development enhances the allocation of capital, 258 liquidity, the firms' access to more sophisticated financial instruments, the flows 259 of information, and reduces the cost of external financing, thereby better enabling 260 firms to exploit current growth opportunities (Love 2011). For a sample of 261 developed and developing countries, Raddatz (2006), for instance, provides 262 evidence that higher financial development translates into a greater number of real 263 growth opportunities and positive net present value projects due to the lower cost of 264 external financing.…”

“…As argued by Love (2011), the question whether 328 better corporate governance leads to improved valuation might be driven also in the 329 opposite direction, that is, better valuation leads to better corporate governance. She 330 also suggests that better identification methods need to be developed in order to 331 articulate convincing conclusions about the direction of the causality.…”

Effect of Corporate Governance on Performance of Sugar Manufacturing Firms in Kenya: A Case of Sugar Manufacturing Firms in Western Kenya

“…The ultimate outcomes of these corporate governance benefits were generally higher cash flows and superior performance for the firm (Love, 2011). Most of the studies on the link between corporate governance and firm performance confirmed causality (Abor & Adjasi, 2007).…”

“…The result is consistent with Black (2001) who found a strong correlation between corporate governance and firm performance. Further, other studies suggest that the ultimate outcomes of these corporate governance benefits are generally higher cash flows and superior performance for the firm (Love, 2011).…”

Barreiras e dificuldades que podem ser encontradas no processo de implementação da governança corporativa nas empresass: um estudo do processo de gerenciamento e da divulgação das informações

“…Corporate Governance can be understood as a set of practices used to reduce conflicts and agency costs, in order to align the interests between the principal and the agent (Claessens & Yurtoglu, 2013, Love, 2011, Hart & Moore, Shleifer & Vishny, 1997.…”