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Corporate governance: a review of the literature

Author

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  • Jorge Farinha

    (CETE, Faculdade de Economia, Universidade do Porto)

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.

Suggested Citation

  • Jorge Farinha, 2003. "Corporate governance: a review of the literature," CEF.UP Working Papers 0306, Universidade do Porto, Faculdade de Economia do Porto.
    • Handle: RePEc:por:cetedp:0306
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    File URL: http://www.fep.up.pt/investigacao/cete/papers/dp0306.pdf
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    Cited by:

    1. Philip Sinnadurai & Ravichandran Subramaniam & Susela Devi, 2021. "The Influence of Government Shareholding on Dividend Policy in Malaysia," IJFS, MDPI, vol. 9(3), pages 1-29, September.
    2. Alves, Paulo & Couto, Eduardo Barbosa & Francisco, Paulo Morais, 2016. "Executive pay and performance in Portuguese listed companies," Research in International Business and Finance, Elsevier, vol. 37(C), pages 184-195.
    3. Philip Sinnadurai & Susela Devi, 2022. "Understanding Post-Privatisation Performance of Statutory Bodies Subject to Government Shareholding—A Suggested Theoretical Framework, for Malaysian Researchers," JRFM, MDPI, vol. 15(5), pages 1-15, May.

    More about this item

    Keywords

    agency theory; corporate governance; ownership structure;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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