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This paper analyzes why corporate governance matters for stock returns if the stock market prices the underlying managerial agency problem correctly. Our theory assumes that strict corporate governance prevents managers from diverting cash flows, but reduces incentives for managerial effort. In...
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corporate governance affects firms’ stock returns and also how the quality of corporate governance is chosen endogenously. The … model predicts that in equilibrium the quality of corporate governance correlates positively with β and idiosyncratic …
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Abstract -- Introduction -- Literature Review and Research Framework -- Effectiveness Study of Chinese Monetary Policy Regulation on Economic Growth and Inflation -- Appropriateness Study of Monetary Policy Regulation on Real Estate Price -- Appropriateness Study of Monetary Policy Regulation on...
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