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Beta-convergence and sigma-convergence in corporate governance in Europe

Listed author(s):
  • Matos, Pedro Verga
  • Faustino, Horácio C.

This paper tests for beta-convergence and sigma-convergence in the corporate governance models, using a sample of corporate governance ratings for 198 European corporations listed on the FTSE Eurofirst 300 index. A piecewise linear regression is deployed to select a model and the Poisson pseudo-maximum likelihood estimator is also applied to estimate an exponential model. It concludes that there is statistical evidence of beta- and sigma-convergence within countries and the results suggest that institutional differences between countries are statistically relevant.

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File URL: http://www.sciencedirect.com/science/article/pii/S0264999312002258
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Article provided by Elsevier in its journal Economic Modelling.

Volume (Year): 29 (2012)
Issue (Month): 6 ()
Pages: 2198-2204

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Handle: RePEc:eee:ecmode:v:29:y:2012:i:6:p:2198-2204
DOI: 10.1016/j.econmod.2012.07.004
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/30411

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