Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/84369
Authors: 
Apreda, Rodolfo
Year of Publication: 
2011
Series/Report no.: 
Serie Documentos de Trabajo, Universidad del CEMA: Área: finanzas 467
Abstract: 
Governance risks stem from the own governance of any organization. The paper puts forward an operational viewpoint of those risks, by mapping the most distinctive categories of governance analysis onto time-dependent governance variables. Afterwards, risks conveyed by the latter are measured against incremental cash flows. The procedure allows a joint analysis of the risky positions carried out by governance variables, tracking them down onto their natural drivers, the incremental cash flows related to assets, creditors, managers, stockholders, and the company's portfolio of non-current financial assets.
Subjects: 
governance risks
corporate governance
incremental cash flows
governance variables
JEL: 
G34
G32
Document Type: 
Working Paper

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