TITLE

Domestic and International Influences on Firm-Level Governance: Evidence from Canada

AUTHOR(S)
Anand, Anita I.; Milne, Frank; Purda, Lynnette D.
PUB. DATE
January 2012
SOURCE
American Law & Economics Review;Spring2012, Vol. 14 Issue 1, p68
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
We examine the extent to which Canadian firms complied with domestic corporate governance best practice guidelines and U.S. corporate governance law including the Sarbanes-Oxley Act. We ask whether voluntary compliance under both regimes occurred and whether cross-listing status and ownership concentration influenced firm behavior. Our results show increasing compliance rates with both regimes over a five-year period, although adoption rates for U.S. standards exceeded rates for Canadian best practices in later years, even for non-cross-listed firms. When given a choice in a best practice regime such as Canada’s, firms may look beyond domestic law in establishing their governance structures.
ACCESSION #
74494836

 

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