The Influence of The Financial Press on Stockholder Wealth : The Case of Corporate Governance  

Oleh:

Johnson, Jonathan L. ; Ellstrand, Alan E. ; Dalton, Dan R. ; Dalton, Catherine M.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Strategic Management Journal vol. 26 no. 5 (May 2005), page 461-472.
Topik: FINANCIAL; corporate governance; boards of directors; financial press

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS30.19 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

This study exaines the impact that the publication of ratings of boards of directors by the business press has on stockholder wealth. We repport findings from an event study of price reactions to the publication of business week's 1996 and 1997 ratings of boards of directors of U. S. corporations. As hypothesized, favorable ratings resulted in significant positive abnormal returns after controlling for market effects and confounding events with only novel information explaining statistical variance. Contrary to expectations, unfavourable ratings also resulted in positive abnormal returns.

Opini Anda

Klik untuk menuliskan opini Anda tentang koleksi ini!

Kembali