Brazil

Working Paper

Regulatory Dualism as a Development Strategy: Corporate Reform in Brazil, the U.S., and the EU

Countries pursuing economic development confront a fundamental obstacle. Reforms that increase the size of the overall pie are blocked by powerful interests that are threatened by the growth-inducing changes. This problem is conspicuous in...Read more

Ronald Gilson
Henry Hansmann
Mariana Pargendler
01 April 2010

What Matters and for Which Firms for Corporate Governance in Emerging Markets? Evidence from Brazil (and Other BRIK Countries)

A central issue in corporate governance research is the extent to which “good” governance practices are universal (one size mostly fits all) or instead depend on country and firm characteristics. We report evidence that supports the second view....Read more

Bernard Black
01 July 2011

Methods for Multicountry Studies of Corporate Governance (and Evidence from the BRIKT Countries)

We discuss empirical challenges in multicountry studies of the effects of firm-level corporate governance on firm value, focusing on emerging markets. We assess the severe data, “construct validity,” and endogeneity issues in these studies,...Read more

Bernard Black
Woochan Kim
01 March 2014