Scandinavian Working Papers in Economics
HomeAboutSeriesSubject/JEL codesAdvanced Search
Ratioinstitutet - The Ratio Institute Ratio Working Papers

No 246:
Corporate Governance Structures, Legal Origin and Firm Performance

David E Andersson, Martin Andersson, Per-Olof Bjuggren () and Andreas Högberg

Abstract: Abstract: There is by now a vast literature on how institutional environments affect corporate investments. Much of this literature centres on corporate governance structures and the broader legal environment in which firms operate. This paper conducts a comparative analysis of three countries with on the surface similar ownership structures but different legal origin. The three countries in the study are Sweden, Taiwan and Hong Kong. These countries are known for strong family ownership but have different legal origins; Scandinavian, German and English, respectively. The paper describes the corporate governance structures in each respective country. Also, since Chinese informal institutions are typically strong and can potentially exert an influence on the actions of managers, these are explained. The comparative analysis is based on an assessment of the countries’ investment performance by means of a marginal q approach. Differences in their performance are interpreted in view of the legal origin hypothesis. Furthermore, investments are decomposed such that returns on different sources of funds can be estimated.

Keywords: Corporate governance; institutional environment; legal origin; marginal q; (follow links to similar papers)

JEL-Codes: C23; G30; L25; (follow links to similar papers)

32 pages, December 29, 2014

Before downloading any of the electronic versions below you should read our statement on copyright.
Download GhostScript for viewing Postscript files and the Acrobat Reader for viewing and printing pdf files.

Full text versions of the paper:

p-ob_corporate-governance-structures-nr-246.pdf    PDF-file
Download Statistics

Questions (including download problems) about the papers in this series should be directed to Martin Korpi ()
Report other problems with accessing this service to Sune Karlsson () or Helena Lundin ().

Programing by
Design by Joachim Ekebom

Handle: RePEc:hhs:ratioi:0246 This page was generated on 2014-12-30 16:05:05