Aggarwal, Reena; Erel, Isil; Stulz, René M.; … - 2007
Using an index which increases as a firm adopts more governance attributes, we find that 12.7% of foreign firms have a … higher index than matching U.S. firms. The best predictor for whether a foreign firm adopts more governance attributes than a … related to the difference between their governance index and the index of matching U.S. firms. This relation is robust to …