Earlier this month, GovernanceMetrics International released yet another survey linking good governance to good investments. According to the corporate governance research and ratings agency, its top rated companies—those with a score of 10—outperformed the S&P 500 Index for each of the last one-, three- and five-year periods ending September 1, 2005, providing excess returns of 11.4 percent, 6.1 percent and 15.2 percent, respectively, relative to the index.
GOVERNANCE AND BEHAVIOR
