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The Corporate Governance Premium, Returns, and Mutual Funds


Julia Chou


affiliation not provided to SSRN

William G. Hardin III


affiliation not provided to SSRN
May 2012

Financial Review, Vol. 47, Issue 2, pp. 299-326, 2012

Abstract:     
Mutual funds with a preference for strong corporate governance (CG) have performance similar to mutual funds with a preference for weak CG. We find a direct relation between overall mutual fund CG preference and the corporate governance premium (CGP). Furthermore, the investment preferences of mutual funds forecast the change in the CGP. We provide evidence that the investment activities of institutional investors can affect stock performance, and that shifts by institutional investors in CG preference impact the appearance of the CGP.

Number of Pages in PDF File: 28

Keywords: corporate governance, premium, mutual funds

JEL Classification: G11, G23, G34

Accepted Paper Series


Date posted: April 21, 2012  

Suggested Citation

Chou, Julia and Hardin III, William G., The Corporate Governance Premium, Returns, and Mutual Funds (May 2012). Financial Review, Vol. 47, Issue 2, pp. 299-326, 2012. Available at SSRN: http://ssrn.com/abstract=2042975 or http://dx.doi.org/10.1111/j.1540-6288.2012.00330.x

Contact Information

Julia Chou (Contact Author)
affiliation not provided to SSRN
No Address Available
William G. Hardin III
affiliation not provided to SSRN
No Address Available
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