Are Governance Practices Associated with Good Results? The Case of Colombia
Since 2007 Colombian listed firms, non-financial and financial, are required to disclose their compliance to a governance country code. The compliance is interpreted as the level of governance and used as independent variable for regressions looking for the determinants of performance and dividends....
- Autores:
-
Benavides Franco, Julián
- Tipo de recurso:
- http://purl.org/coar/resource_type/c_c94f
- Fecha de publicación:
- 2012
- Institución:
- Universidad ICESI
- Repositorio:
- Repositorio ICESI
- Idioma:
- eng
- OAI Identifier:
- oai:repository.icesi.edu.co:10906/83463
- Acceso en línea:
- http://dx.doi.org/10.2139/ssrn.1986196
http://www.ssrn.com/abstract=1986196
http://repository.icesi.edu.co/biblioteca_digital/handle/10906/83463
- Palabra clave:
- Economía
Gobierno corporativo
Rendimiento
Dividendos
Gobernanza
Economics
- Rights
- openAccess
- License
- https://creativecommons.org/licenses/by-nc-nd/4.0/
| Summary: | Since 2007 Colombian listed firms, non-financial and financial, are required to disclose their compliance to a governance country code. The compliance is interpreted as the level of governance and used as independent variable for regressions looking for the determinants of performance and dividends. The results mostly confirm a positive association of governance with performance, and a U-shaped effect of governance on dividend payout. The effect of governance is higher for non-financial firms and for large non-financial firms. |
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