An Applied Econometricians' View of Empirical Corporate Governance Studies

Posted: 12 Dec 2002

See all articles by Axel H. Börsch-Supan

Axel H. Börsch-Supan

Max Planck Society for the Advancement of the Sciences - Munich Center for the Economics of Aging (MEA)

Jens F. Koke

Allianz Group

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Abstract

The economic analysis of corporate governance is in vogue. In addition to a host of theoretical papers, an increasing number of empirical studies analyze how ownership structure, capital structure, board structure, and the market for corporate control influence firm performance. This is not an easy task, and indeed, for reasons explained in this survey, empirical studies on corporate governance have more than the usual share of econometric problems. This paper is a critical survey of the recent empirical literature on corporate governance - to show which methodological lessons can be learned for future empirical research in the field of corporate governance, paying particular attention to German institutions and data availability.

Keywords: Corporate governance

JEL Classification: G30

Suggested Citation

Börsch-Supan, Axel H. and Koke, Jens F., An Applied Econometricians' View of Empirical Corporate Governance Studies. German Economic Review, Vol. 3, pp. 295-326, 2002, Available at SSRN: https://ssrn.com/abstract=320578

Axel H. Börsch-Supan (Contact Author)

Max Planck Society for the Advancement of the Sciences - Munich Center for the Economics of Aging (MEA) ( email )

Amalienstrasse 33
Munich, 80799
Germany

HOME PAGE: http://www.mea.mpisoc.mpg.de

Jens F. Koke

Allianz Group ( email )

Denmark

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