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An applied econometricians' view of empirical corporate governance studies

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  • Börsch-Supan, Axel
  • Köke, Jens

Abstract

The economic analysis of corporate governance is en vogue. In addition to a host of theoretical papers, an increasing number of empirical studies analyze how ownership structure, capital structure, the structure of the board and the market for corporate control influence firm performance. This is not an easy task, and indeed, for reasons explained in this survey, empirical studies on corporate governance have more than the usual share of econometric problems. Aim of this paper is a critical survey of the recent empirical literature on corporate governance – in order to show which methodological lessons can be learned for future empirical research in the field of corporate governance, paying particular attention to German institutions and data availability.

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  • Börsch-Supan, Axel & Köke, Jens, 2000. "An applied econometricians' view of empirical corporate governance studies," ZEW Discussion Papers 00-17, ZEW - Leibniz Centre for European Economic Research.
    • Handle: RePEc:zbw:zewdip:5302
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    Cited by:

    1. Januszewski, Silke I. & Koke, Jens & Winter, Joachim K., 2002. "Product market competition, corporate governance and firm performance: an empirical analysis for Germany," Research in Economics, Elsevier, vol. 56(3), pages 299-332, September.
    2. Köke, Jens, 2001. "Corporate governance, market discipline, and productivity growth," ZEW Discussion Papers 01-55, ZEW - Leibniz Centre for European Economic Research.
    3. Bozec, Richard & Dia, Mohamed, 2007. "Board structure and firm technical efficiency: Evidence from Canadian state-owned enterprises," European Journal of Operational Research, Elsevier, vol. 177(3), pages 1734-1750, March.
    4. Köke, Jens, 2000. "Control transfers in corporate Germany: their frequency, causes and consequences," ZEW Discussion Papers 00-67, ZEW - Leibniz Centre for European Economic Research.
    5. Köke, Jens, 2001. "Determinants of acquisition and failure: stylized facts and lessons for empirical studies," ZEW Discussion Papers 01-30, ZEW - Leibniz Centre for European Economic Research.
    6. Malika HAMADI, 2002. "Ownership Strucure ad the Performance of Belgian Listed Firms," LIDAM Discussion Papers IRES 2002015, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).

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    Keywords

    Corporate governance;

    JEL classification:

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

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