Chen, Kevin C.W.; Chen, Zhihong; Wei, K.C. John - In: Journal of Corporate Finance 15 (2009) 3, pp. 273-289
This study examines the effect of firm-level corporate governance on the cost of equity capital in emerging markets and how the effect is influenced by country-level legal protection of investors. We find that firm-level corporate governance has a significantly negative effect on the cost of...