Drobetz, Wolfgang; Gugler, Klaus; Hirschvogl, Simone - 2004
This paper analyzes the determinants of the German corporate governance rating recently developed by Drobetz … firmlevel corporate governance as measured by the rating. Firms with larger boards of directors have lower governance ratings …, but firms that apply US-GAAP or IAS rules and/or use an option-based remuneration plan have higher corporate governance …