HCBE Faculty Articles

Title

Corporate Governance: Known, Unknown, and the Wrongly Known

Document Type

Article

Date

2013

Publication Title

Journal of Business and Economics

ISSN or ISBN

2155-7950

Volume

4

Issue

2

First Page

105

Last Page

123

Description

We survey the literature and identify the different measures of corporate governance used in the academic literature and those used in the corporate world. We also analyze the characteristics of the firm captured by academic researchers and the commercial vendors to compose such indices. Even though corporate governance in accounting and finance deals with shareholder rights and corporate disclosures we document that none of the measures account for corporate disclosures. We argue that shareholder rights and corporate disclosures are complementary components of corporate governance. In the absence of timely information shareholders cannot exercise their rights effectively. Therefore, we conclude with the recommendation that future measures incorporate timeliness and quality of corporate disclosures in corporate governance measures.

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