NDLI: Corporate governance, investment behavior and stock returns

Content Provider	IEEE Xplore Digital Library
Author	Chen De-qiu Ye Chen-gang
Copyright Year	2009
Description	Author affiliation: International Business School, University of International Business and Economics, China, 100029 (Chen De-qiu; Ye Chen-gang)
Abstract	Based on agency theory of the firm , and the special institutional setting that China corporate governance evolve from mandatory governance in “compliance” stage to voluntary governance in “innovation” stage, this paper analyses how voluntary governance affect stock returns under the research paradigm of “governance mechanism-corporate behavior-economic consequences ”. Subsequently, apply positive tests by using the data on China's listed companies data from 2005 to 2007. We find that, investor relations and stock returns significantly correlated, and ways to achieve by the mediator variable for investment behavior. The study found explore the specific channel of corporate governance affect the economic consequences, open the “black boxes” between them, and provide a useful perspective of the understanding of corporate governance affect economic consequences.
Starting Page	1316
Ending Page	1321
File Size	174777
Page Count	6
File Format	PDF
ISBN	9781424439706
DOI	10.1109/ICMSE.2009.5318026
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2009-09-14
Publisher Place	Russia
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Technological innovation Costs Project management under-investment Conference management Security Bridges Engineering management investor relations management over-investment Investments Innovation management corporate governance stock returns Testing
Content Type	Text
Resource Type	Article

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