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

Abstract

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
Volume12
Issue number3
DOIs
StatePublished - 14 Dec 2009
Externally publishedYes

Keywords

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

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