首页> 外文期刊>African Journal of Business Management >Effect of corporate governance mechanisms on the relationship between legal origins and cost of debt: Evidence from the Middle East and North Africa (MENA) Region
【24h】

Effect of corporate governance mechanisms on the relationship between legal origins and cost of debt: Evidence from the Middle East and North Africa (MENA) Region

机译:公司治理机制对法律渊源与债务成本之间关系的影响:来自中东和北非(MENA)地区的证据

获取原文
       

摘要

How do differences in country-level governance and enforcement mechanisms affect firms? Using a large dataset from the?Middle East and North Africa?(MENA) region, we document that differences in legal traditions translate into differences in cost of debt. Our results show that firms headquartered in the common law countries have lower cost of debt than firms headquartered in the civil law countries. Our results also show that bulk of the difference in cost of debt between firms headquartered across the two legal regimes can be explained by the corporate governance mechanisms. Our results have implication for firms in the civil law countries in a way that they highlight that higher cost of debt in the civil law countries can be offset by improving firm-level corporate governance mechanisms.
机译:国家层面的治理和执行机制上的差异如何影响公司?我们使用来自“中东和北非”(MENA)地区的大型数据集,证明法律传统的差异转化为债务成本的差异。我们的结果表明,总部设在普通法国家的公司的债务成本比总部设在大陆法国家的公司低。我们的结果还表明,总部在两种法律制度下的公司之间的债务成本差异中的大部分可以由公司治理机制来解释。我们的结果对民法国家的公司具有一定的意义,因为它们着重指出,通过改善公司层面的公司治理机制可以抵消民法国家中较高的债务成本。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱:kefu@zhangqiaokeyan.com

京公网安备:11010802029741号 ICP备案号:京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有
  • 客服微信

  • 服务号