TY - BOOK ID - 134744828 TI - Corporate Governance and Regulation : Can There Be Too Much of A Good Thing ? AU - Bruno, Valentina G. AU - Claessens, Stijn PY - 2007 PB - Washington, D.C., The World Bank, DB - UniCat KW - Capital Markets KW - Company Behavior KW - Corporate Governance KW - Corporate Governance Regime KW - Corporate Law KW - Debt Markets KW - Economic Policy, Institutions and Governance KW - Emerging Markets KW - Exchange KW - External Financing KW - Finance and Financial Sector Development KW - Financial Markets KW - Governance KW - Governance and Financial Sector KW - Governance Indicators KW - Governance Measures KW - Governance Practice KW - Governance Practices KW - Institutions and Governance KW - Investor KW - Investor Protection KW - Investors KW - Law and Development KW - Legal Regime KW - Legal Regimes KW - Legal Systems KW - Macroeconomics and Economic Growth KW - Microfinance KW - National Governance KW - Private Sector Development KW - Public Sector Development KW - Regulatory Regimes KW - Shareholder KW - Shareholder Protection KW - Shareholders KW - Small Scale Enterprises UR - https://www.unicat.be/uniCat?func=search&query=sysid:134744828 AB - For a large number of companies from different countries, the authors analyze how company corporate governance practices and country regulatory regimes interact in terms of company valuation. They confirm that corporate governance plays a crucial role in efficient company monitoring and shareholder protection, and consequently positively impacts valuation. They find substitution in valuation impact between corporate governance measures at the company and country level, with a possibility of over-regulation. Corporate governance appears more valuable for companies that rely heavily on external financing, consistent with the hypothesis that the main role of corporate governance is to protect external financiers. ER -