Corporate governance and expected stock returns : empirical evidence from Germany
著者
書誌事項
Corporate governance and expected stock returns : empirical evidence from Germany
（Gabler Edition Wissenschaft）
Deutscher Universitäts-Verlag, 2003
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注記
Originally presented as the author's thesis (doctoral)--Wissenschaftliche Hochschule für Unternehmensführung, Vallendar, 2003
Includes bibliographical references (p. 173-188) and index
内容説明・目次
内容説明
Based on his Corporate Governance Rating (CGR) for German firms, Andreas Schillhofer documents a positive relationship between the CGR and firm value. In addition, there is strong evidence that expected returns are negatively correlated with the CGR if dividend yields and price-earnings ratios are used as proxies for the cost of capital.
目次
Theoretical and conceptual framework
Governance mechanisms and firm performance
Modeling governance as a reward for risk
Empirical evidence on the relationship between corporate governance and expected returns on equity
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