Governance Transparency and Capital Allocation: A Note

• Autores: Wen He
• Localización: Abacus: A journal of accounting, finance and business studies, ISSN 0001-3072, Vol. 47, Nº 1, 2011, págs. 109-118
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • Habib (2008) shows that financial transparency, but not governance transparency, is related to efficiency in capital allocation. I argue that governance transparency is more likely to facilitate capital allocation in declining industries where agency problems intensify. Empirical evidence from a sample of 39 countries supports this argument.