Corporate Governance and Information Efficiency in Security Markets
"This paper investigates a neglected topic in corporate governance research; namely, do governance characteristics affect the market reaction to news? The topic is important given the emphasis by governance regulations and codes of best practice on the need for greater transparency of corporate activities. For the first time in the corporate governance literature, we show that corporate governance characteristics (particularly the presence of founding family directors and gender diverse boards) affect the market reaction to company specific news. The results of the paper point to the analysis of the impact of governance characteristics on the market reaction to news being a new and complementary research agenda within corporate governance." Copyright 2006 The Authors Journal compilation (c) 2006 Blackwell Publishing Ltd.
Year of publication: |
2006
|
---|---|
Authors: | Cai, Charlie X. ; Keasey, Kevin ; Short, Helen |
Published in: |
European Financial Management. - European Financial Management Association - EFMA. - Vol. 12.2006, 5, p. 763-787
|
Publisher: |
European Financial Management Association - EFMA |
Saved in:
freely available
Saved in favorites
Similar items by person
-
Corporate governance : from accountability to enterprise
Short, Helen, (2008)
-
The development of corporate governance codes in the UK
Keasey, Kevin, (2005)
-
Institutional shareholders and corporate governance in the UK
Short, Helen, (2005)
- More ...