We examine the extent to which individual monitoring mechanisms enhance firm performance and shareholder value. We use a sample of Australian firms, from 1994 to 2003, to analyse the relationship between firm performance and corporate governance. This provides a long time series of governance...

Using a sample of large Australian firms from 1994 to 2003, we show that variation in firm-level corporate governance mechanisms plays an important role in explaining a firm's cost of capital. Our empirical results show that greater insider ownership, the presence of institutional blockholders...

Despite the general acceptance of the role of corporate governance, empirical research has remained inconclusive regarding the extent to which individual monitoring mechanisms enhance firm performance and shareholder value. In particular, most previous studies have not convincingly overcome two...

We examine the extent to which individual monitoring mechanisms enhance firm performance and shareholder value. We use a sample of Australian firms, from 1994 to 2003, to analyze the relationship between firm performance and corporate governance. This provides a long time series of governance...