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The Wall Street Rule and Its Impact on Board Monitoring
| Content Provider | Scilit |
|---|---|
| Author | Chen, Brandon Duong, Lien Truong, Thu Phuong |
| Copyright Year | 2018 |
| Description | Journal: SSRN Electronic Journal The “Wall Street Rule” (WSR), a form of monitoring by institutional investors, has been viewed as a “cut-and-run” strategy adopted to express dissatisfaction with a company’s management. In this study, we show that WSR, far from being a passive protest, is in fact a potent weapon to improve corporate governance. We present empirical evidence that WSR is positively associated with board monitoring when the firm is endowed with an outsider-dominated board. This suggests that WSR improves stock price informativeness, providing the board with an additional source of information so that it may monitor the company more effectively. |
| Related Links | https://espace.curtin.edu.au/bitstream/20.500.11937/75435/2/75619.pdf https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=3102146 |
| ISSN | 10914358 |
| e-ISSN | 15565068 |
| DOI | 10.2139/ssrn.3102146 |
| Journal | SSRN Electronic Journal |
| Language | English |
| Publisher | Elsevier BV |
| Publisher Date | 2018-01-24 |
| Access Restriction | Open |
| Subject Keyword | Journal: SSRN Electronic Journal Wall Street Rule Board Composition Corporate Governance Stock Price Informativeness |
| Content Type | Text |
| Resource Type | Article |
| Subject | Public Health, Environmental and Occupational Health Psychiatry and Mental Health |
