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Measuring corporate governance: objectives and solutions by comparison

Author

Listed:
  • Federica Ielasi

    (Università degli Studi di Parma)

  • Massimo Regalli

    (Università degli Studi di Parma)

  • Maria Gaia Soana

    (Università degli Studi di Roma «Tor Vergata»)

Abstract

Many indicators have been developed at international level to evaluate the quality of corporate governance. In this paper, the fundamental elements and limitations of existing indicators are discussed. Among these indicators, particular attention has been focused on the Gim Index, an index utilized by numerous economists in empirical analyses on U.S. firms.The paper emphasizes the difficulty of the Gim Index to reflect the type of governance that characterizes enterprises operating in continental European countries. In order to evaluate the quality of governance of European firms a specific model (Sir Index) is formulated taking into account the main variables useful in understanding the asymmetry existing between minority and majority shareholders.

Suggested Citation

  • Federica Ielasi & Massimo Regalli & Maria Gaia Soana, 2011. "Measuring corporate governance: objectives and solutions by comparison," BANCARIA, Bancaria Editrice, vol. 3, pages 20-38, March.
    • Handle: RePEc:ban:bancar:v:03:y:2011:m:march:p:20-38
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    File URL: http://www.bancariaeditrice.it/prodotti/vedi/prodotto/id/2458/bancaria-n-3-2011
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    More about this item

    Keywords

    corporate governance; governance index; Gim Index; Sir Index;
    All these keywords.

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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