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Endogeneity and the corporate governance-performance relation

Schultz, Emma; Tan, David; Walsh, Kathleen Diane


The governance-performance literature is characterized by its inability to reach a consensus regarding the nature of the relation. We posit that these inconsistent findings are symptomatic of inadequacies in the econometric techniques employed when adjusting for all forms of endogeneity. To test this, we fit a comprehensive model of performance and governance using a range of econometric techniques. Once a dynamic generalized method of moments (GMM) specification robust to all forms of...[Show more]

CollectionsANU Research Publications
Date published: 2010
Type: Journal article
Source: Australian Journal of Management
DOI: 10.1177/0312896210370079


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