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首页> 外文期刊>Rivista Internazionale di Scienze Sociali >THE SUBSTANCE OF GOOD CORPORATE GOVERNANCE: AN INTERPRETATIVE ANALYSIS OF CORPORATE GOVERNANCE QUALITY AND ITS METRICS
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THE SUBSTANCE OF GOOD CORPORATE GOVERNANCE: AN INTERPRETATIVE ANALYSIS OF CORPORATE GOVERNANCE QUALITY AND ITS METRICS

机译:良好公司治理的实质:对公司治理质量及其指标的解释性分析

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摘要

Despite the increasing number of studies on corporate governance, the study of what is understood as "good" corporate governance and how this "quality" is measured has not been extensively approached; thus, what constitutes good corporate governance remains unsolved. To examine the substance of corporate governance quality, we undertake an interpretative analysis of this concept. We conclude that the deep meaning of corporate governance quality is anchored to the theoretical lens adopted to approach it and that agency theory represents the mainstream method employed in this task Our results question the validity of agency-based metrics of corporate governance for the two following reasons: the endogeneity problem they embed and the agency Uni-versalist approach that does not capture the holistic complexity of corporate governance at a firm level. To tackle such limitations, we propose the behavioural approach to fully capture the substance of what makes 'good' corporate governance and to measure it.
机译:尽管有关公司治理的研究越来越多,但是关于“良好”公司治理以及如何衡量“质量”的研究尚未得到广泛的研究。因此,什么构成良好的公司治理仍未解决。为了检查公司治理质量的实质,我们对此概念进行了解释性分析。我们得出的结论是,公司治理质量的深层含义取决于采用的理论视角,代理理论代表了此任务中采用的主流方法。由于以下两个原因,我们的研究结果质疑了基于代理的公司治理指标的有效性:他们嵌入的内生性问题和代理Uni-versalist方法无法捕获公司层面公司治理的整体复杂性。为了解决这些局限性,我们提出了一种行为方法,以充分体现“良好”公司治理的实质并对其进行衡量。

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