Corporate Governance: A Survey of the Literature

Universidade do Porto Economia Discussion Paper No. 2003-06

73 Pages Posted: 20 Nov 2003

See all articles by Jorge Farinha

Jorge Farinha

University of Porto - Faculdade de Economia do Porto

Date Written: November 2003

Abstract

This paper reviews the theoretical and empirical literature on the nature and consequences of the corporate governance problem, providing some guidance on the major points of consensus and dissent among researchers on this issue. Also analysed is the effectiveness of a set of external and internal disciplining mechanisms in providing a solution for the corporate governance problem. Apart from this, particular emphases are given to the special conflicts arising from the relationship between managers and shareholders in companies with large ownership diffusion, the issue of managerial entrenchment and the link between firm value and corporate governance.

Keywords: agency theory, corporate governance, ownership structure

JEL Classification: G300

Suggested Citation

Farinha, Jorge, Corporate Governance: A Survey of the Literature (November 2003). Universidade do Porto Economia Discussion Paper No. 2003-06, Available at SSRN: https://ssrn.com/abstract=470801 or http://dx.doi.org/10.2139/ssrn.470801

Jorge Farinha (Contact Author)

University of Porto - Faculdade de Economia do Porto ( email )

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