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O'Connor, Thomas G., 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
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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: | 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 |
| Related URLs: | |
| URI: | https://mural.maynoothuniversity.ie/id/eprint/8834 |
| 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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