Corporate Governance

Translated title of the contribution: [Autom. eng. transl.] Corporate Governance

Alessandro Cafarelli, Maurizio Dallocchio

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

[Autom. eng. transl.] The structure and processes of corporate governance play a decisive role in determining the chances of success or failure of a company. The failures of some very important market players and the financial crisis of recent years have, in fact, increased interest in the principles of transparency and independence of governance and have made the investor much more attentive to the characteristics of corporate governance than a 'company. Governance affects the company's success and numerous studies show the existence of positive relationships between its effective management and performance in the reference market. There is also a direct link between corporate governance and risk (hence the cost of capital), therefore investors are willing to pay, for the same high conditions, a premium for companies with better corporate governance. It is also useful to highlight how governance is not a "one size fits all" concept but is influenced by different aspects and it is not possible to assume a single corporate structure configuration to all applicable. Finally, the effects of good governance extend not only to the individual company but to the market as a whole.
Translated title of the contribution[Autom. eng. transl.] Corporate Governance
Original languageItalian
Title of host publicationFinanza aziendale, volume 2, Milano, EGEA, 2011
Pages549-574
Number of pages26
Publication statusPublished - 2011

Keywords

  • Corporate Governance

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