Bruno, Valentina; Claessens, Stijn - In: Journal of Financial Intermediation 19 (2010) 4, pp. 461-482
We investigate how company-level corporate governance practices and country-level legal investor protection jointly … affect company performance. We find that in any legal regime there are a few specific governance practices that improve … performance. Companies with good governance practices operating in stringent legal environments, however, show a valuation …