Beta-convergence and sigma-convergence in corporate governance in Europe
نویسندگان
چکیده
Article history: This paper tests for beta-convergence and sigma-convergence in the corporate governancemodels, using a samAccepted 12 July 2012 ple of corporate governance ratings for 198 European corporations listed on the FTSE Eurofirst 300 index. A piecewise linear regression is deployed to select amodel and the Poisson pseudo-maximum likelihood estimator JEL classification: is also applied to estimate an exponential model. It concludes that there is statistical evidence of betaand C12 sigma-convergence within countries and the results suggest that institutional differences between countries F43 are statistically relevant. G30 © 2012 Elsevier B.V. All rights reserved.
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