English, Article edition: Legal protection of investors, corporate governance, and the cost of equity capital Chen, Kevin C.W.; Chen, Zhihong; Wei, K.C. John

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/31960
Physical Description
  • article
Language
  • English

Edition details

Title
  • Legal protection of investors, corporate governance, and the cost of equity capital
Author
  • Chen, Kevin C.W.
  • Chen, Zhihong
  • Wei, K.C. John
Physical Description
  • article
Notes
  • This study examines the effect of firm-level corporate governance on the cost of equity capital in emerging markets and how the effect is influenced by country-level legal protection of investors. We find that firm-level corporate governance has a significantly negative effect on the cost of equity capital in these markets. In addition, this corporate governance effect is more pronounced in countries that provide relatively poor legal protection. Thus, in emerging markets, firm-level corporate governance and country-level shareholder protection seem to be substitutes for each other in reducing the cost of equity. Our results are consistent with the finding from McKinsey's surveys that institutional investors are willing to pay a higher premium for shares in firms with good corporate governance, especially when the firms are in countries where the legal protection of investors is weak.
  • Corporate governance Cost of equity Legal protection of investors
  • RePEc:eee:corfin:v:15:y:2009:i:3:p:273-289
Language
  • English
Contributed by
OAIster

Get this edition

Other links

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment