• 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>Emerging markets review >The relationship between liquidity, corporate governance, and firm valuation: Evidence from Russia
【24h】

The relationship between liquidity, corporate governance, and firm valuation: Evidence from Russia

机译：流动性，公司治理与公司估值之间的关系：来自俄罗斯的证据

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

This paper examines the hypotheses that liquidity improves corporate governance, and better governance enhances valuation of Russian firms. We find a positive causal relationship between measures of liquidity and corporate governance. Additionally, we document the strong positive impact of corporate governance on valuation. Our results are economically significant. For example, we document that a 10% decrease in the proportion of zero return days implies a 0.34% increase in transparency and disclosure, which in turn leads to a 9.6% increase in firm valuation. Our research findings shed light on the important role of liquidity in improving corporate governance and valuation.
机译：本文研究了以下假设：流动性改善了公司治理，而更好的治理则增强了俄罗斯公司的估值。我们发现流动性度量与公司治理之间存在正因果关系。此外，我们记录了公司治理对估值的强大积极影响。我们的结果具有经济意义。例如，我们证明零回报日的比例下降10％意味着透明度和披露增加0.34％，这反过来又导致公司估值增加9.6％。我们的研究结果揭示了流动性在改善公司治理和评估中的重要作用。

著录项

  • 来源
    《Emerging markets review》 |2012年第4期|465-477|共13页
  • 作者

    Wei-Xuan Li; Clara Chia-Sheng Chen; Joseph J. French;

  • 作者单位

    School of Business, The Richard Stockton College of New Jersey, 101 Vera King Farris Drive, Galloway, NJ 08205, United States;

    School of Business, The Richard Stockton College of New Jersey, 101 Vera King Farris Drive, Galloway, NJ 08205, United States;

    Monfort College of Business, University of Northern Colorado, Campus box 128, Greeley, CO 80631, United States;

  • 收录信息
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

    corporate governance; liquidity; russia; tobin's Q;

    机译：公司治理;流动资金;俄国;托宾的Q;

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号