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dc.contributor.author
Chisari, Omar Osvaldo
dc.contributor.author
Ferro, Gustavo Adolfo
dc.contributor.author
Maquieyra, Javier
dc.date.available
2018-02-01T19:00:53Z
dc.date.issued
2012-08
dc.identifier.citation
Chisari, Omar Osvaldo; Ferro, Gustavo Adolfo; Maquieyra, Javier; Could corporate governance practices enhance social welfare?; Palgrave Macmillan Ltd; International Journal of Disclosure and Governance; 11; 2; 8-2012; 99-113
dc.identifier.issn
1741-3591
dc.identifier.uri
http://hdl.handle.net/11336/35410
dc.description.abstract
The purpose of the article is to contribute to the quantitative evaluation of economy-wide corporate governance reforms. In the literature quantitative studies on this issue are not common. The computable general equilibrium (CGE) approach offers useful insights, which complement a partial equilibrium (firm level) analysis. In this study, corporate governance is assumed to be costly for those firms that implement it and we model it as an additional cost with spill-over on the rest of the economy through the price system. The model is simulated using 2006 macroeconomic data for Argentina. An additional internal audit body is required of firms implementing corporate governance (public firms) in the country. Auditors are thus the direct recipient of those costs and they provide the possibility of proxy corporate governance incremental expenses for public firms. Simulations assume different scenarios and potential benefits from corporate governance are considered too. The article models potential benefits in terms of reduced cost of capital and simulates various scenarios where: (1) there are no benefits, (2) cost of capital is reduced (permanently), (3) the reduction is temporary and (4) the volatility of the cost of capital is reduced.
dc.format
application/pdf
dc.language.iso
eng
dc.publisher
Palgrave Macmillan Ltd
dc.rights
info:eu-repo/semantics/openAccess
dc.rights.uri
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
dc.subject
Gobierno Corporativo
dc.subject
Equilibrio General Computado
dc.subject
Bienestar Social
dc.subject
Argentina
dc.subject.classification
Economía, Econometría
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Economía y Negocios
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CIENCIAS SOCIALES
dc.title
Could corporate governance practices enhance social welfare?
dc.type
info:eu-repo/semantics/article
dc.type
info:ar-repo/semantics/artículo
dc.type
info:eu-repo/semantics/publishedVersion
dc.date.updated
2018-02-01T17:02:26Z
dc.identifier.eissn
1746-6539
dc.journal.volume
11
dc.journal.number
2
dc.journal.pagination
99-113
dc.journal.pais
Reino Unido
dc.description.fil
Fil: Chisari, Omar Osvaldo. Universidad Argentina de la Empresa. Facultad de Ciencias Económicas. Instituto de Economía; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina
dc.description.fil
Fil: Ferro, Gustavo Adolfo. Universidad Argentina de la Empresa. Facultad de Ciencias Económicas. Instituto de Economía; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina
dc.description.fil
Fil: Maquieyra, Javier. Universidad Argentina de la Empresa. Facultad de Ciencias Económicas. Instituto de Economía; Argentina
dc.journal.title
International Journal of Disclosure and Governance
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/doi/http://dx.doi.org/10.1057/jdg.2012.16
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/url/https://link.springer.com/article/10.1057/jdg.2012.16
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