Jiang, Christine X.; Kim, Jang-Chul; Kuvvet, Emre - In: The Financial Review 49 (2014) 4, pp. 643-668
We investigate how firm-specific certification practices through corporate governance can reduce perceived ambiguity and thus enhance liquidity of a firm in the stock market. We show that better corporate governance helps reduce ambiguity. In addition, a reduction in ambiguity is significantly...