TY - BOOK ID - 11260249 TI - Corporate Governance Reforms in the EU : Do They Matter and How? AU - Ivaschenko, Iryna. AU - Brooks, Petya. PY - 2008 VL - WP/08/91 SN - 1451914067 1462350755 9786612840463 1451983255 1282840460 1451869525 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Corporate governance KW - Corporate governance. KW - Governance, Corporate KW - Industrial management KW - Directors of corporations KW - Finance: General KW - Investments: General KW - Public Finance KW - Corporate Governance KW - Corporate Finance and Governance: Government Policy and Regulation KW - General Financial Markets: General (includes Measurement and Data) KW - Auditing KW - role & responsibilities of boards & directors KW - Finance KW - Management accounting & bookkeeping KW - Investment & securities KW - Commodity markets KW - Capital markets KW - Securities KW - Commodity exchanges KW - Capital market KW - Financial instruments KW - Italy KW - Role & responsibilities of boards & directors UR - https://www.unicat.be/uniCat?func=search&query=sysid:11260249 AB - This paper proposes a new approach to quantifying the effects of corporate governance reforms, by focusing on the dynamics of the voting premiums, a measure of the private benefits of control in a corporation. The results indicate that the reforms have been successful in reducing the voting premiums EU-wide. Moreover, more intense and broad reform efforts (such as introducing national reforms beyond and above the EU-wide initiatives) bring higher and longer lasting benefits. Our findings also suggest that the market for corporate control in Europe has become more integrated, as illustrated by the lower dispersion in voting premiums across countries and over time. ER -