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Corporate governance features among European Union countries – an exploratory analysis


  • Iustina Alina Boitan
  • Ewa Wanda Maruszewska


This study investigates European Union countries’ differences and similarities referring to corporate governance treated as (1) an external tool to overcome the conflict of interest described by the agency theory, and as (2) a result of an institutional environment. We conduct a cluster analysis and uncover an increased cross-country heterogeneity. Our findings might be of interest to European capital market investors. Differentiating between low-level corporate governance countries and high-level corporate governance countries may also be of regulators’ interests who should search for other means to improve country-level corporate governance practices.

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  • Iustina Alina Boitan & Ewa Wanda Maruszewska, 2021. "Corporate governance features among European Union countries – an exploratory analysis," The Review of Finance and Banking, Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante, vol. 13(1), pages 79-91, June.
  • Handle: RePEc:rfb:journl:v:13:y:2021:i:1:p:79-91

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    References listed on IDEAS

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