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Titlebook: Corporate Governance and Expected Stock Returns; Empirical Evidence f Andreas Schillhofer Book 2003 Deutscher Universitäts-Verlag/GWV Fachv

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发表于 2025-3-21 18:21:59 | 显示全部楼层 |阅读模式
书目名称Corporate Governance and Expected Stock Returns
副标题Empirical Evidence f
编辑Andreas Schillhofer
视频videohttp://file.papertrans.cn/239/238481/238481.mp4
图书封面Titlebook: Corporate Governance and Expected Stock Returns; Empirical Evidence f Andreas Schillhofer Book 2003 Deutscher Universitäts-Verlag/GWV Fachv
描述In the wake of several high profile corporate collapses the discussion about corporate governance has intensified and professional investors have become more conscious of their rights of control in the portfolio companies. Whereas Anglo-American authors have done excellent work on the relationship between corporate governance and firm valuation, there is little empirical evidence on this topic in Germany. But recent works suggest that a stricter legal environment leads to lower expected rates of return in an international cross-section of countries...Andreas Schillhofer investigates whether differences in firm-specific corporate governance also help to explain expected returns in a cross-section of firms within a single jurisdiction. Based on his Corporate Governance Rating (CGR) for German firms, the author documents a positive relationship between the CGR and firm value. In addition, there is strong evidence that expected returns are negatively correlated with the CGR if dividend yields and price-earnings ratios are used as proxies for the cost of capital..
出版日期Book 2003
关键词Asset Pricing; Corporate Governance; Cost of capital; Governance; Principal Agent Theory; Rating; Unterneh
版次1
doihttps://doi.org/10.1007/978-3-322-81560-6
isbn_softcover978-3-8244-7888-0
isbn_ebook978-3-322-81560-6
copyrightDeutscher Universitäts-Verlag/GWV Fachverlage GmbH, Wiesbaden 2003
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发表于 2025-3-21 22:58:40 | 显示全部楼层
Theoretical and Conceptual Framework, on Corporate Governance. It builds on the property rights theory, since it deals with the delegation of control rights from the principal to the agent. The principal-agent relationship can be defined as “[...] a contract under which one or more persons (the principal(s)) engage another person (the
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Governance Mechanisms and Firm Performance,hanisms. or into exante preventive and ex-post corrective control mechanisms.. The classification into internal and external mechanisms refers to whether the respective mechanism is initiated and conducted through internal institutionalized channels and procedures or through external parties beyond
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Mingxin Zhang,Qiuyu Wu,Yongjun Liu on Corporate Governance. It builds on the property rights theory, since it deals with the delegation of control rights from the principal to the agent. The principal-agent relationship can be defined as “[...] a contract under which one or more persons (the principal(s)) engage another person (the
发表于 2025-3-23 01:15:49 | 显示全部楼层
Guojun Wang,Xuemin Lin,Genggeng Liuhanisms. or into exante preventive and ex-post corrective control mechanisms.. The classification into internal and external mechanisms refers to whether the respective mechanism is initiated and conducted through internal institutionalized channels and procedures or through external parties beyond
发表于 2025-3-23 03:02:45 | 显示全部楼层
Bin Xu,Sheng Yan,Kening Gao,Yu Zhang,Ge Yud induced agency costs and increase firm value. While there are a number of studies which analyze the relationship between Corporate Governance and firm value, the link between Governance mechanisms and the required rate of return is largely unexplored. Lombardo and Pagano (2002) argue that this is
发表于 2025-3-23 07:16:06 | 显示全部楼层
Xin Wang,Rui Zhang,Yang-Sae Moonthey are willing to pay significant premiums for well-governed companies, and that Corporate Governance practices are at least important as financial indicators when evaluating investment decisions. While the relationship between legal Governance variables and firm performance has been analyzed in n
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