MURAL - Maynooth University Research Archive Library

    Corporate governance and life cycles in emerging markets

    Esqueda, Omar A. and O'Connor, Thomas G. (2020) Corporate governance and life cycles in emerging markets. Research in International Business and Finance, 51 (101077). ISSN 0275-5319

    Download (641kB) | Preview

    Share your research

    Twitter Facebook LinkedIn GooglePlus Email more...

    Add this article to your Mendeley library


    Whereas the corporate life cycle hypothesis says firms follow structured goals along their life cycle, others argue that corporate governance objectives vary independently of predetermined life cycle stages. This study examines the impact of the corporate life cycle on corporate governance in emerging markets, where firms can self-select into stricter rules by adopting an exchange listing level that fits the governance needs of the organization independently of life cycle requirements. We find the listing-level decision is a better predictor of corporate governance quality than corporate life cycle. Firms signal improvements in corporate governance by bonding to more stringent regulation; they determine the corporate governance quality that matches their needs at any point during their life-cycle.

    Item Type: Article
    Additional Information: JEL classification: G30 G32 G34
    Keywords: Agency theory Bovespa; Corporate governance; Corporate life cycle; Emerging markets; Novo mercado;
    Academic Unit: Faculty of Social Sciences > School of Business
    Item ID: 16349
    Identification Number:
    Depositing User: Thomas G. O'Connor
    Date Deposited: 22 Aug 2022 09:41
    Journal or Publication Title: Research in International Business and Finance
    Publisher: Elsevier
    Refereed: Yes
    Use Licence: This item is available under a Creative Commons Attribution Non Commercial Share Alike Licence (CC BY-NC-SA). Details of this licence are available here

    Repository Staff Only(login required)

    View Item Item control page


    Downloads per month over past year

    Origin of downloads