|
|
|
|
||||
|
||||
Corporate Governance and the Variability of Stock Returns: Evidence from New Zealand CompaniesHardjo KoerniadiAuckland University of Technology Chandrasekhar KrishnamurtiUniversity of Southern Queensland Alireza Tourani RadAuckland University of Technology - Faculty of Business & Law January 15, 2010 Finance and Corporate Governance Conference 2010 Paper Abstract: In this paper, we document the beneficial impact of firm level corporate governance practices on the riskiness of firms’ stock returns. Using a self-constructed corporate governance index, we show that well-governed New Zealand firms experience lower levels of unsystematic risk, ceteris paribus. In particular, our results show that corporate governance components such as board composition, shareholder rights, and disclosure are associated with lower levels of unsystematic risk.
Number of Pages in PDF File: 18 working papers seriesDate posted: January 23, 2010 ; Last revised: April 8, 2010Suggested CitationContact Information
|
|
||||||||||||||||||
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
FAQ
Terms of Use
Privacy Policy
Copyright
This page was processed by apollo5 in 0.360 seconds
