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| Tekijä: | Drobetz, W. Schillhofer, A. Zimmermann, H. |
| Otsikko: | Corporate governance and expected stock returns: evidence from Germany |
| Lehti: | European Financial Management
2004 : JUN, VOL. 10:2, p. 267-293 |
| Asiasana: | Asset valuation Company value Corporate governance Equity capital Performance measurement Stock returns |
| Kieli: | eng |
| Tiivistelmä: | Recent studies have found evidence for higher valuation of companies in countries with a better legal environment. It is investigated whether differences in the quality of company-level corporate governance also help to explain company performance in a cross-section of companies within a single jurisdiction. A positive relationship is documented between governance practices and company valuation by constructing a broad corporate governance rating (CGR) for German public companies. |
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