Thumbnail
Access Restriction
Open

Author Tadesse, Solomon
Source CiteSeerX
Content type Text
File Format PDF
Subject Domain (in DDC) Computer science, information & general works ♦ Data processing & computer science
Abstract Capital markets perform two distinct functions: provision of capital and facilitation of good governance through information production and monitoring. We argue that the governance function impacts on the efficiency with which resources are utilized within the firm. Based on industry level data across thirty-eight countries, we present evidence suggesting a positive relation between market-based governance and improvements in industry efficiency. The measures of governance are also positively correlated with productivity improvements and growth in real output. The evidence underscores the role of capital markets as a conduit of socially valuable governance services as distinct from capital provision.
Educational Role Student ♦ Teacher
Age Range above 22 year
Educational Use Research
Education Level UG and PG ♦ Career/Technical Study