DEA Governance Efficiency Frontier and Credit Rating
Journal Title: International Journal of Empirical Finance - Year 2014, Vol 2, Issue 3
Abstract
The purpose of our study is to test whether corporate governance efficiency may influence the credit rating of the firm. Using Data envelopment analysis (DEA), we construct a score of corporate governance efficiency. We are based on a sample of 571 American firms rated by Standard and Poor’s over the period 1995-2007. Our results show that high corporate governance efficiency improves credit rating. Hence, we find that corporate governance efficiency is a criterion in the credit rating process.
Authors and Affiliations
Sameh Ouni
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- EP ID EP27143
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