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Home Working Papers Evaluating Corporate Governance and Identifying Its Formulating Factors: The Case of Greece
Evaluating Corporate Governance and Identifying Its Formulating Factors: The Case of Greece PDF Print E-mail
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Saturday, 20 December 2008 18:54

Lazarides, Th.G. and Drimpetas, E. (2008), “Evaluating Corporate Governance and Identifying Its Formulating Factors: The Case of Greece”, (December 18, 2008). Available at SSRN: http://ssrn.com/abstract=1317629

Abstract:Manuscript Type: EmpiricalResearch Question/Issue: The paper seeks to establish a benchmark for the evaluation of the quality of Corporate Governance (CG) and to detect the factors that affect it in Greece.Research Findings/Insights: An Index of CG quality is constructed. Data from annual reports are used to identify the mechanisms and practices of CG. CG quality in Greece is quite low, in terms of international best practices. The main drivers of CG quality are firm size, leadership or power concentration and board characteristics. Greek firms’ CG quality dependent more on the balance of power within the firm, rather than performance or market for corporate control.Theoretical/Academic Implications: The study provides evidence that there is a different set of factors that affect CG quality than the ones in the Anglo-Saxon countries. The paper addresses the issue of proposed CG mechanisms relevance with the real CG problems.
Last Updated on Saturday, 20 December 2008 18:57