Whereas the corporate life cycle hypothesis says firms follow structured goals along their life cycle, others argue that corporate governance objectives vary independently of predetermined life cycle stages. This study examines the impact of the corporate life cycle on corporate governance in...

We analyze the role of firm-level corporate governance in determining the precommitment payout policy of emerging market firms and investigate if there is a precommitment lifecycle effect. Unlike previous studies for the U.S. firms, we only find evidence of precommitment among relatively...