scholarly journals Corporate Governance and Stock Performance: The Case of COVID-19 Crisis

2021 ◽  
pp. 106920
Author(s):  
Yu-Lin Hsu ◽  
Li-Kai Liao
Keyword(s):  
Corporate Governance ◽  
Stock Performance

scholarly journals Fundamental valuation of extra-financial information

2010 ◽  
Vol 8 (1) ◽  
pp. 296-320
Author(s):  
Christian Mandl ◽  
Sebastian Lobe ◽  
Klaus Röder ◽  
Martina Dürndorfer
Keyword(s):  
Corporate Governance ◽  
Human Capital ◽  
Stock Prices ◽  
Earnings Forecasts ◽  
Financial Information ◽  
Stock Performance ◽  
Public Firms ◽  
Market Values ◽  
European Public ◽  
Innovation Capital

We augment seminal models based on Ohlson (1995) by integrating the value impact of ratings related to three different extra-financial categories, i. e. corporate governance, human capital, and innovation capital. By integrating extra-financial information in valuation models, we examine whether current market values can be better estimated and future stock performance better predicted when considering this information. For a sample of large European public firms, we find that a model including human capital information and analysts’ earnings forecasts best explains current stock prices. Our model based on human capital information (without analysts’ forecasts) best identifies under- and overvalued companies.

scholarly journals Corporate governance and stock performance: Evidence from Canadian firms over the period 2005-2009

2011 ◽  
Vol 8 (3) ◽  
pp. 56-68
Author(s):  
Richard Cotter ◽  
Jeremy Dason ◽  
Jijun Niu ◽  
Peter Klein
Keyword(s):  
Corporate Governance ◽  
Stock Return ◽  
Tobin’S Q ◽  
Sample Period ◽  
Tobin's Q ◽  
Stock Performance ◽  
The Relationship

This paper examines the relationship between corporate governance and stock performance using a sample of Canadian firms over the period 2005 – 2009. We measure corporate governance using the Corporate Governance Quotient index, and stock performance using three variables: one-month stock return, three-year stock return, and Tobin’s Q. Overall, we find no evidence that corporate governance is associated with stock performance over our sample period.

scholarly journals When does diversification add value: evidence of corporate governance and abnormal long-term stock performance

2010 ◽  
Vol 7 (3) ◽  
pp. 325-342 ◽  
Author(s):  
Charmaine Glegg ◽  
Oneil Harris ◽  
Winston Buckley
Keyword(s):  
Corporate Governance ◽  
Asymmetric Information ◽  
Shareholder Value ◽  
Abnormal Returns ◽  
Corporate Diversification ◽  
Positive Relation ◽  
Stock Performance ◽  
Diversified Firms

Contrary to prior research indicating that on average, shareholders do not benefit from corporate diversification, we provide evidence of a significant positive relation between diversification and abnormal buy-and-hold returns. Additionally, we show that shareholder gain from corporate diversification is a function of managerial accountability. We introduce and test the effective monitoring hypothesis for diversified firms, and demonstrate that the positive relation between diversification and abnormal returns is concentrated in firms where managers are most likely to be held accountable for policies that reduce shareholder value. The main implication is that gains from corporate diversification are concentrated in firms in which managerial accountability deters managers from taking advantage of asymmetric information created by diversification.

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