Corporate Governance And Long Term Stock Returns
Download Corporate Governance And Long Term Stock Returns full books in PDF, epub, and Kindle. Read online free Corporate Governance And Long Term Stock Returns ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Corporate Governance and Long-term Stock Returns
Author | : Theodore Clark Moorman |
Publisher | : |
Total Pages | : |
Release | : 2005 |
Genre | : |
ISBN | : |
Download Corporate Governance and Long-term Stock Returns Book in PDF, Epub and Kindle
Extant literature finds that long-term abnormal stock returns are generated by a strategy based on corporate governance index values (Gompers, Ishii, and Metrick2003). The result is inconsistent with efficient markets and suggests that information about governance is not accurately reflected in market data. Control firm portfolios are used to mitigate model misspecification in measuring long-term abnormal returns. Using a number of different matching criteria and governance indices, no long-term abnormal returns are found to trading strategies based on corporate governance. The effect of a change in governance on firm value is mixed, but some support is found for poor governance destroying firm value. These results have a number of implications for practitioners, researchers, and policy makers.
Corporate Governance and Long-term Stock Returns Related Books
Pages:
Pages: 388
Pages: 51
Pages: 238
Pages: 260