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The corporate debt market tends to provide a funding alternative, but requires improvements in regulation and self-regulation. Therefore, corporate governance arises as a central element for reducing agency conflicts, and… Click to show full abstract
The corporate debt market tends to provide a funding alternative, but requires improvements in regulation and self-regulation. Therefore, corporate governance arises as a central element for reducing agency conflicts, and private debt market development. We analyze the corporate governance structure of debt issuers from Brazil and India through an index of Economic Commission for Latin America and the Caribbean (ECLAC). The results showed that the non-defaulted companies had higher scores and the corporate governance quality of the issuer tends to contribute to the fulfillment of its obligations.
Journal Title: Research in International Business and Finance
Year Published: 2017
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