Governance transparency and capital allocation: a note

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2 Citations (Scopus)

Abstract

Habib (2008) shows that financial transparency, but not governance transparency, is related to efficiency in capital allocation. I argue that governance transparency is more likely to facilitate capital allocation in declining industries where agency problems intensify. Empirical evidence from a sample of 39 countries supports this argument.

Original languageEnglish
Pages (from-to)109-118
Number of pages10
JournalAbacus
Volume47
Issue number1
DOIs
Publication statusPublished - Mar 2011
Externally publishedYes

Keywords

  • Agency problems
  • Capital allocation
  • Corporate disclosure
  • Corporate governance

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