The problem of causality in corporate governance research: The case of governance indexes and firm valuation

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dc.contributor.authorSaravia, Jimmy A.
dc.contributor.authorSaravia, Silvia
dc.contributor.eafitauthorjsaravia@eafit.edu.co
dc.contributor.eafitauthorSilvia.SARAVIA@cepal.org
dc.coverage.spatialMedellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degreeseng
dc.date.accessioned2015-01-22T21:48:31Z
dc.date.available2015-01-22T21:48:31Z
dc.date.issued2015-03-23
dc.description.abstractIn recent years the problem of the determination of causality has become an increasingly important question in the field of corporate governance. This paper reviews contemporary literature on the topic and finds that the current approach is to attempt to determine causality empirically and that the problem remains unresolved. After explaining the reasons why it is not possible to attempt to determine causality using real world data without falling prey to a logical fallacy, this paper discusses an approach to deal with the problem. In particular, the paper argues that the appropriate approach for the problem is to build theories, with causality featuring as a part of those theories, and then to test those theories both for logical and empirical consistency.eng
dc.identifier.jelB41
dc.identifier.jelG34
dc.identifier.jelG38
dc.identifier.jelK22
dc.identifier.urihttp://hdl.handle.net/10784/4648
dc.language.isoengeng
dc.publisherUniversidad EAFITspa
dc.publisher.departmentEscuela de Economía y Finanzasspa
dc.rights.accessrightsinfo:eu-repo/semantics/openAccesseng
dc.rights.localAcceso abiertospa
dc.subject.keywordCorporate Governanceeng
dc.subject.keywordAgency Costseng
dc.subject.keywordFirm Valuationeng
dc.subject.keywordGovernance indexeseng
dc.subject.keywordBoards of Directorseng
dc.subject.keywordEntrenchmenteng
dc.subject.keywordShareholder Rightseng
dc.titleThe problem of causality in corporate governance research: The case of governance indexes and firm valuationeng
dc.typeworkingPapereng
dc.typeinfo:eu-repo/semantics/workingPapereng
dc.type.hasVersiondrafteng
dc.type.localDocumento de trabajo de investigaciónspa

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