Governance Diversity
Abstract
This paper analyzes the intra-industry dispersionof firms’ governance structures. We build a model that relates firm governance to product market competition and show that industry competitiveness determines the dispersion in the governance choices of firms. Using a sample of U.S. governance scores provided by ISS, we find that governance diversity increases with the industry concentration and the relation is non-linear.
Full Text: PDF DOI: 10.15640/jble.v2n2a1
Abstract
This paper analyzes the intra-industry dispersionof firms’ governance structures. We build a model that relates firm governance to product market competition and show that industry competitiveness determines the dispersion in the governance choices of firms. Using a sample of U.S. governance scores provided by ISS, we find that governance diversity increases with the industry concentration and the relation is non-linear.
Full Text: PDF DOI: 10.15640/jble.v2n2a1
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