disappearance of the governance-returns association was due to market participants' learning to appreciate the difference between … firms scoring well and poorly on the governance indices. Consistent with the learning hypothesis, we document that (i …

the identified correlation and its subsequent disappearance were due to market participants' gradually learning to … appreciate the difference between firms scoring well and poorly on the governance indices. Consistent with the learning …

governance-returns association was due to market participants' learning to appreciate the difference between firms scoring well … and poorly on the governance indices. Consistent with the learning hypothesis, we document that (i) attention to corporate …

governance-returns association was due to market participants' learning to appreciate the difference between firms scoring well … and poorly on the governance indices. Consistent with the learning hypothesis, we document that (i) attention to corporate …