Journal of Financial Economics Vol. 27 No. 2 1990
Corporate governance through statistical eyes
Abstract
This paper discusses the main findings in three statistical studies: ‘ESOPs and Corporate Control’ by Gordon and Pound, ‘…The Choice Between Dual-Class Recapitalizations and Leveraged Buyouts’ by Lehn, Netter, and Poulsen, and ‘Outside Directorships and Corporate Performance’ by Kaplan and Reishus. I conclude that, despite the sophisticated design and execution of the three studies, the amount of important new information they provide is small. Specific problems regarding their methodologies and interpretation are discussed. I question the fruitfulness of an exclusively statistical approach to corporate governance research.
- DOI
- 10.1016/0304-405x(90)90068-b
- Volume
- 27
- Issue
- 2
- Pages
- 581-593
- Language
- en
- Sources
- bibtex:phds-export.bib openalex crossref