References
- Aguilera, R. V. and Jackson, G. (2003) The cross-national diversity of corporate governance, dimensions and determinants, Academy of Management Review, 28, 447–65.
- Ashbaugh-Skaife, H., Collins, D. W. and LaFond, R. (2006) The effects of corporate governance on firms’ credit ratings, Journal of Accounting and Economics, 42, 203–43. doi:10.1016/j.jacceco.2006.02.003
- Bauer, R., Frijns, B., Otten, R. et al. (2008) The impact of corporate governance on corporate performance: evidence from Japan, Pacific-Basin Finance Journal, 16, 236–51. doi:10.1016/j.pacfin.2007.05.001
- Bauer, R., Guenster, N. and Otten, R. (2004) Empirical evidence on corporate governance in Europe: the effect on stock returns, firm value and performance, Journal of Asset Management, 5, 91–104. doi:10.1057/palgrave.jam.2240131
- Becht, M., Bolton, P. and Röell, A. (2003) Corporate governance and control, Handbook of the Economics of Finance, 1, 1–109.
- Beiner, S., Drobetz, W., Schmid, M. M. et al. (2006) An integrated framework of corporate governance and firm valuation, European Financial Management, 12, 249–83.
- Berglo, F. E. and Pajuste, A. (2005) What do firms disclose and why? Enforcing corporate governance and transparency in central and eastern Europe, Oxford Review of Economic Policy, 21, 178–97. doi:10.1093/oxrep/gri011
- Black, B. S. (2001) The corporate governance behavior and market value of Russian firms, Emerging Markets Review, 2, 89–108. doi:10.1016/S1566-0141(01)00012-7
- Black, B. S., Jang, H. and Kim, W. (2006) Predicting firms’ corporate governance choices: evidence from Korea, Journal of Corporate Finance, 12, 660–91. doi:10.1016/j.jcorpfin.2005.08.001
- Blundell, R., Dearden, L. and Sianesi, B. (2005) Evaluating the effect of education on earnings: models, methods and results from the national child development survey, Journal of the Royal Statistical Society: Series A (Statistics in Society), 168, 473–512. doi:10.1111/j.1467-985X.2004.00360.x
- Bruno, V. and Claessens, S. (2007) Corporate governance and regulation, can there be too much of a good thing?, Policy Research Working Paper Series 4140, World Bank, Washington, DC.
- Carlsson, R. H. (2007) Swedish corporate governance and value creation: owners still in the driver’s seat, Corporate Governance: An International Review, 15, 1038–55. doi:10.1111/j.1467-8683.2007.00629.x
- Carvalho, A. G. (2008) The effect of institutional development on the growth of Brazilian firms, Revista Brasileira De Economia, 62, 453–68. doi:10.1590/S0034-71402008000400004
- de Jong, A., Dejong, D. V., Mertens, G. et al. (2005) The role of self-regulation in corporate governance: evidence and implications from the Netherlands, Journal of Corporate Finance, 11, 473–503. doi:10.1016/j.jcorpfin.2004.01.002
- Dittmar, A. and Mahrt-Smith, J. (2007) Corporate governance and the value of cash holdings, Journal of Financial Economics, 83, 599–634. doi:10.1016/j.jfineco.2005.12.006
- Doidge, C., Andrewkarolyi, A. G. and Stulz, R. M. (2007) Why do countries matter so much for corporate governance?, Journal of Financial Economics, 86, 1–39. doi:10.1016/j.jfineco.2006.09.002
- Drobetz, W., Schillhofer, A. and Zimmermann, H. (2003) Corporate governance and expected stock returns, evidence from Germany, Working Paper No. 02/03, WWZ, Department of Finance, University Basel, Basel.
- Fernández-Val, I. (2009) Fixed effects estimation of structural parameters and marginal effects in panel Probit models, Journal of Econometrics, 150, 71–85. doi:10.1016/j.jeconom.2009.02.007
- Florackis, C. and Ozkan, A. (2008) Agency costs and corporate governance mechanisms: evidence for UK firms, International Journal of Managerial Finance, 4, 37–59. doi:10.1108/17439130810837375
- Gompers, P., Ishii, J. and Metrick, A. (2003) Corporate governance and equity prices, The Quarterly Journal of Economics, 118, 107–156. doi:10.1162/00335530360535162
- Grün, R. (2005) Convergência das elites e inovações financeiras: a governança corporativa no brasil, Revista Brasileira De Ciências Sociais, 20, 67–90. doi:10.1590/S0102-69092005000200004
- Ho, S. S. M. and Wong, K. S. (2001) A study of the relationship between corporate governance structures and the extent of voluntary disclosure, Journal of International Accounting, Auditing and Taxation, 10, 139–56. doi:10.1016/S1061-9518(01)00041-6
- Hsiao, C., Pesaran, M. H. and Pick, A. (2012) Diagnostic tests of cross-section independence for limited dependent variable panel data models, Oxford Bulletin of Economics and Statistics, 74, 253–77.
- Huse, M. (2007) Boards, Governance and Value Creation, the Human Side of Corporate Governance, Cambridge University Press, Cambridge.
- Karpoff, J., Malatesta, P. and Walkling, R. (1996) Corporate governance and shareholder initiatives: empirical evidence, Journal of Financial Economics, 42, 365–95. doi:10.1016/0304-405X(96)00883-5
- Klapper, L. and Love, I. (2004) Corporate governance, investor protection, and performance in emerging markets, Journal of Corporate Finance, 10, 703–28. doi:10.1016/S0929-1199(03)00046-4
- Klock, M., Mansi, S. and Maxwell, W. (2005) Does corporate governance matter to bondholders?, Journal of Financial and Quantitative Analysis, 40, 693–719. doi:10.1017/S0022109000001940
- La Porta, R., Lopez-de-Silanes, F., Shleifer, A. et al. (1998) Law and finance, Journal of Political Economy, 106, 1113–55. doi:10.1086/250042
- Lazonick, W. and O’Sullivan, M. (2000) Maximizing shareholder value: a new ideology for corporate governance, Economy and Society, 29, 13–35. doi:10.1080/030851400360541
- Leal, R. and Carvalhal-da-Silva, A. (2005) Corporate governance and value in Brazil, and Chile, Working Paper No. R-514, Inter-American Development Bank/Latin American Research Network, Washington, DC.
- Liesenfeld, R., Moura, G. V. and Richard, J. F. (2007) Dynamic panel probit models for current account reversals and their efficient estimation, Economics Working Paper No. 2007-11, Christian-Albrechts-University of Kiel, Keil.
- Pesaran, M. H. (2004) General diagnostic tests for cross section dependence in panels. Cambridge Working Paper in Economics 0435, University of Cambridge, Cambridge.
- Shleifer, A. and Vishny, R. (1997) A survey of corporate governance, The Journal of Finance, 52, 737–83. doi:10.1111/j.1540-6261.1997.tb04820.x
- Stulz, R. M. (1999) Golbalization, corporate finance, and the cost of capital, Journal of Applied Corporate Finance, 12, 8–25. doi:10.1111/j.1745-6622.1999.tb00027.x
- Zeidan, R. and Fontes Filho, J. R. (2012) Corporate governance and industrialization in brazil: an historical approach, The IUP Journal of Corporate Governance, 11, 7–23.