Corporate governance reform and firm value in Mexico: An empirical assessment

Alberto Chong, Jorge Guillen, Florencio Lopez-de-Silanes

Research output: Contribution to journalArticle in a journalpeer-review

11 Scopus citations


Based on a newly assembled firm-level data set on corporate governance and firm performance for Mexico, we show that better firm-level corporate governance practices are linked to higher valuations, better performance and more dividends disbursed to investors. These results hold after controlling for endogeneity. Overall, the evidence shows that the Mexican legal environment poses serious problems for access to capital.
Original languageEnglish
Pages (from-to)163-188
Number of pages26
JournalJournal of Economic Policy Reform
Issue number3
StatePublished - 14 Dec 2009
Externally publishedYes


  • Corporate governance
  • Firms
  • Law reform
  • Mexico
  • Regulation


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