In our third issue of EMCGN Newsletter we feature two papers on corporate governance indicators in key emerging markets. The first paper investigates how good corporate governance practices depend on country and firm characteristics, and is a great contribution to the current debate on whether governance practices should be universal vs. local and firm-specific. The second paper builds a composite corporate governance index using a selection of Novo Mercado’s listing rules and investigates how it relates to the firm market value and operating performance.
Our third paper is investigating a growing trend: sustainability reporting. The authors study the consequences of mandatory corporate sustainability reporting, and investigate if sustainability reporting induces companies to improve their nonfinancial performance and contribute towards a sustainable society. The study has cross country implications as it compares the results between countries with different institutional backdrop.
Our fourth paper finds a positive relationship between busy directors with interlocking relations and firm performance in Colombia.