Corporate Governance and Expected Stock Returns
Author | : Andreas Schillhofer |
Publisher | : Springer-Verlag |
Total Pages | : 210 |
Release | : 2013-03-08 |
ISBN-10 | : 9783322815606 |
ISBN-13 | : 3322815609 |
Rating | : 4/5 (609 Downloads) |
Book Synopsis Corporate Governance and Expected Stock Returns by : Andreas Schillhofer
Download or read book Corporate Governance and Expected Stock Returns written by Andreas Schillhofer and published by Springer-Verlag. This book was released on 2013-03-08 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on his Corporate Governance Rating (CGR) for German firms, Andreas Schillhofer documents a positive relationship between the CGR and firm value. In addition, there is strong evidence that expected returns are negatively correlated with the CGR if dividend yields and price-earnings ratios are used as proxies for the cost of capital.