Corporate Law and Corporate Governance
Corporate Governance and Equity Prices
Paul Gompers, Joy Ishii, and Andrew Metrick
- Year
- 2003
- Venue
- Quarterly Journal of Economics
- Level
- Advanced
Summary
Constructs a governance index from twenty-four takeover-defense and shareholder-rights provisions for a large panel of U.S. firms in the 1990s. The paper finds that stronger shareholder rights are associated with higher firm value and abnormal stock returns, while weaker rights are associated with lower valuation.
Citation
Paul Gompers, Joy Ishii, and Andrew Metrick. "Corporate Governance and Equity Prices." Quarterly Journal of Economics, 2003.
BibTeX
@article{Gompers2003Corporate,
title = {Corporate Governance and Equity Prices},
author = {Paul Gompers, Joy Ishii, and Andrew Metrick},
year = {2003},
journal = {Quarterly Journal of Economics},
url = {https://academic.oup.com/qje/article/118/1/107/1917018}
}