O'Connor, Thomas G. and Kinsella, Stephen and O'Sullivan, Vincent
(2014)
Legal protection of investors, corporate governance,
and investable premia in emerging markets.
International Review of Economics and Finance, 29.
pp. 426-439.
ISSN 1059-0560
Abstract
We examine the interaction between the legal protection of investors, corporate governance,
and investable premia in emerging markets. In a multi-country setting and using a novel
dataset we find that better-governed firms experience significantly greater stock price
increases upon equity market liberalization. We look to see whether well-governed firms in
poorly governed countries enjoy an investability premium as measured by Tobin's q. We find
that they do. Investors look beyond the seemingly weak country-level governance structures,
and focus on corporate governance.
| Item Type: |
Article
|
| Keywords: |
Investability;
Corporate governance;
Tobin's q;
Emerging markets; |
| Academic Unit: |
Faculty of Social Sciences > Economics, Finance and Accounting |
| Item ID: |
8834 |
| Identification Number: |
https://doi.org/10.1016/j.iref.2013.07.003 |
| Depositing User: |
Thomas G. O'Connor
|
| Date Deposited: |
20 Sep 2017 08:21 |
| Journal or Publication Title: |
International Review of Economics and Finance |
| Publisher: |
Elsevier |
| Refereed: |
Yes |
| URI: |
|
| Use Licence: |
This item is available under a Creative Commons Attribution Non Commercial Share Alike Licence (CC BY-NC-SA). Details of this licence are available
here |
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