Corporate governance and firm performance.docVIP

Corporate governance and firm performance Sanjai Bhagat Brian Bolton Abstract The primary contribution of this paper is the consistent estimation of the relationship between corporate governance and performance, by taking into account the inter-relationships among corporate governance, management turnover, corporate performance, corporate capital structure, and corporate ownership structure. We make three additional contributions to the literature: First, we find that better governance as measured by the Gompers, Ishii, and Metrick (GIM, 2003) and Bebchuk, Cohen and Ferrell (BCF, 2004) indice