Corporate governance and firm value: empirical evidence from electric utilities

This study analyzes the impact that Corporate Governance has in the firm value of electric utilities in 2018. It develops the description of the role that Corporate Governance plays in an enterprise, making an emphasis in the behaviors that are seen towards the firm innovation capacity and the impor...

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Autores:
Arias Ramírez, Isabel
Martínez Restrepo, Maria Clara
Tipo de recurso:
Fecha de publicación:
2019
Institución:
Universidad EAFIT
Repositorio:
Repositorio EAFIT
Idioma:
OAI Identifier:
oai:repository.eafit.edu.co:10784/15325
Acceso en línea:
http://hdl.handle.net/10784/15325
Palabra clave:
Gobierno corporativo
GOBIERNO CORPORATIVO
SECTOR ELÉCTRICO
Firm value
Electric utilities
Firm innovation capacity
Corporate governance
Rights
License
Acceso abierto
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repository_id_str
spelling Restrepo Ochoa, Diana ConstanzaAlzate Vélez, Juan ManuelArias Ramírez, IsabelMartínez Restrepo, Maria ClaraEconomistaiariasr@eafit.edu.commarti42@eafit.edu.coMedellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degrees2019-12-10T13:03:37Z20192019-12-10T13:03:37Zhttp://hdl.handle.net/10784/15325658.045 A696This study analyzes the impact that Corporate Governance has in the firm value of electric utilities in 2018. It develops the description of the role that Corporate Governance plays in an enterprise, making an emphasis in the behaviors that are seen towards the firm innovation capacity and the importance of choosing the electric industry as the sample of analysis. Data availability was a major constraint to assess the proposed relationship. Nevertheless, an OLS regression was performed for a 2018 cross-sectional database evaluating firm value, measured by the Tobin’s Q ratio, against the governance rating of the CSRHub and several other control variables. Our results show a positive and significant relationship between the quality of corporate governance and the value of the company. In view of the restrictions caused by the data availability for an analysis of this kind, suggestions are made for further research that can be held to strengthen the results shown in this study.Universidad EAFITEconomíaEscuela de Economía y Finanzas. Departamento de Economía.MedellínGobierno corporativoGOBIERNO CORPORATIVOSECTOR ELÉCTRICOFirm valueElectric utilitiesFirm innovation capacityCorporate governanceCorporate governance and firm value: empirical evidence from electric utilitiesbachelorThesisinfo:eu-repo/semantics/bachelorThesisTrabajo de gradoacceptedVersionhttp://purl.org/coar/resource_type/c_7a1fAcceso abiertohttp://purl.org/coar/access_right/c_abf2LICENSElicense.txtlicense.txttext/plain; charset=utf-81748https://repository.eafit.edu.co/bitstreams/63e11518-f23b-4766-8f36-b13203c62967/download8a4605be74aa9ea9d79846c1fba20a33MD51ORIGINALIsabel_Arias_MariaClara_Martinez_2019.pdfIsabel_Arias_MariaClara_Martinez_2019.pdfTrabajo de gradoapplication/pdf436118https://repository.eafit.edu.co/bitstreams/0b727b12-a329-47f4-ae58-52d7ea6a6901/download07fc68c4068103aa74be1961f1df1594MD5210784/15325oai:repository.eafit.edu.co:10784/153252020-03-10 19:45:30.877open.accesshttps://repository.eafit.edu.coRepositorio Institucional Universidad EAFITrepositorio@eafit.edu.co
dc.title.spa.fl_str_mv Corporate governance and firm value: empirical evidence from electric utilities
title Corporate governance and firm value: empirical evidence from electric utilities
spellingShingle Corporate governance and firm value: empirical evidence from electric utilities
Gobierno corporativo
GOBIERNO CORPORATIVO
SECTOR ELÉCTRICO
Firm value
Electric utilities
Firm innovation capacity
Corporate governance
title_short Corporate governance and firm value: empirical evidence from electric utilities
title_full Corporate governance and firm value: empirical evidence from electric utilities
title_fullStr Corporate governance and firm value: empirical evidence from electric utilities
title_full_unstemmed Corporate governance and firm value: empirical evidence from electric utilities
title_sort Corporate governance and firm value: empirical evidence from electric utilities
dc.creator.fl_str_mv Arias Ramírez, Isabel
Martínez Restrepo, Maria Clara
dc.contributor.advisor.spa.fl_str_mv Restrepo Ochoa, Diana Constanza
Alzate Vélez, Juan Manuel
dc.contributor.author.none.fl_str_mv Arias Ramírez, Isabel
Martínez Restrepo, Maria Clara
dc.subject.spa.fl_str_mv Gobierno corporativo
topic Gobierno corporativo
GOBIERNO CORPORATIVO
SECTOR ELÉCTRICO
Firm value
Electric utilities
Firm innovation capacity
Corporate governance
dc.subject.lemb.spa.fl_str_mv GOBIERNO CORPORATIVO
SECTOR ELÉCTRICO
dc.subject.keyword.spa.fl_str_mv Firm value
Electric utilities
Firm innovation capacity
Corporate governance
description This study analyzes the impact that Corporate Governance has in the firm value of electric utilities in 2018. It develops the description of the role that Corporate Governance plays in an enterprise, making an emphasis in the behaviors that are seen towards the firm innovation capacity and the importance of choosing the electric industry as the sample of analysis. Data availability was a major constraint to assess the proposed relationship. Nevertheless, an OLS regression was performed for a 2018 cross-sectional database evaluating firm value, measured by the Tobin’s Q ratio, against the governance rating of the CSRHub and several other control variables. Our results show a positive and significant relationship between the quality of corporate governance and the value of the company. In view of the restrictions caused by the data availability for an analysis of this kind, suggestions are made for further research that can be held to strengthen the results shown in this study.
publishDate 2019
dc.date.available.none.fl_str_mv 2019-12-10T13:03:37Z
dc.date.issued.none.fl_str_mv 2019
dc.date.accessioned.none.fl_str_mv 2019-12-10T13:03:37Z
dc.type.eng.fl_str_mv bachelorThesis
dc.type.none.fl_str_mv info:eu-repo/semantics/bachelorThesis
dc.type.coar.fl_str_mv http://purl.org/coar/resource_type/c_7a1f
dc.type.local.spa.fl_str_mv Trabajo de grado
dc.type.hasVersion.eng.fl_str_mv acceptedVersion
dc.identifier.uri.none.fl_str_mv http://hdl.handle.net/10784/15325
dc.identifier.ddc.none.fl_str_mv 658.045 A696
url http://hdl.handle.net/10784/15325
identifier_str_mv 658.045 A696
dc.rights.coar.fl_str_mv http://purl.org/coar/access_right/c_abf2
dc.rights.local.spa.fl_str_mv Acceso abierto
rights_invalid_str_mv Acceso abierto
http://purl.org/coar/access_right/c_abf2
dc.coverage.spatial.eng.fl_str_mv Medellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degrees
dc.publisher.spa.fl_str_mv Universidad EAFIT
dc.publisher.program.spa.fl_str_mv Economía
dc.publisher.department.spa.fl_str_mv Escuela de Economía y Finanzas. Departamento de Economía.
dc.publisher.place.spa.fl_str_mv Medellín
institution Universidad EAFIT
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repository.name.fl_str_mv Repositorio Institucional Universidad EAFIT
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