Detail práce

Competition and Corporate Governance: Effects on Financial Position and Profitability

Autor: Bc. Jan Kurzeja
Rok: 2016 - letní
Vedoucí: Jiří Novák M.Sc., Ph.D., Deloitte Corporate Chair
Konzultant:
Typ práce: Bakalářská
Jazyk: Anglicky
Stránky: 48
Ocenění:
Odkaz: https://is.cuni.cz/webapps/zzp/detail/151332/
Abstrakt: Using a novel approach towards competition and the Sarbanes Oxley Act (SOX)
as a shock to internal governance we examine the interaction between product
market competition and corporate governance mechanisms. Our results
provide a support for notions of substitution model of dividends and firms’
financial policies being shaped by competition environment. We find evidence
that companies facing higher competition threats experience a larger profitability
improvement, a notion that is inconsistent with a traditional substitution
relationship of governance and competition.

Partneři

Deloitte

Sponzoři

CRIF
McKinsey
Patria Finance