Lee, Shih-Cheng; Lin, Chien-Ting; Chang, Pei-Ting - In: Pacific-Basin Finance Journal 19 (2011) 4, pp. 420-434
We examine the relation between a firm's market value, financial performance, and corporate governance as a cointegrated system in the Ohlson (1995) valuation framework. Using a comprehensive set of 29 governance measures in 4 categories for Taiwanese firms, we find that governance related to...