Corporate governance policy and company performance: The Portuguese case

• Tipo: Artigo em Revista Científica Internacional
• Data: 2004

Autores

Carlos Alves (Autor) FEP; Mendes, V (Autor) Outra

Revista

A Revista está pendente de validação pelos Serviços Administrativos.

Título: CORPORATE GOVERNANCE-AN INTERNATIONAL REVIEW

Vol. 12

Páginas: 290-301

ISSN: 0964-8410

Indexação

ISI Web of Knowledge - 59 Citações

Scopus - 73 Citações

Outras Informações

ID Authenticus: P-000-9K8

DOI: 10.1111/j.1467-8683.2004.00370.x

Abstract (EN): Several supervisory authorities and governmental working groups issued corporate governance best practice codes for listed companies during the nineties. In this paper, we used a unique database that allowed us to analyse the relationship between the level of compliance of the code of best practice issued by the Portuguese Securities Market Commission and the returns of the concerned companies. By using a multifactor model, one can conclude that there is a positive relationship between the compliance of some of these recommendations and the returns that were determined. The recommendations on the structure and functioning of the executive board deserve a special attention. However, globally, CMVM's code of best practice doesn't have a systematic effect on firm returns.

Idioma: Inglês

Tipo (Avaliação Docente): Científica

Nº de páginas: 12