Peer-Reviewed Journal Details
Mandatory Fields
O'Connor T.
2012
January
Research in International Business and Finance
Investability, corporate governance and firm value
Published
()
Optional Fields
Corporate governance Investability Tobin's q
26
1
120
136
In this paper, I show that " investable premia" are greatest for transparent, well-governed firms. I find that single-class share investable firms and better-governed firms reap the largest valuation gains from becoming investable. Dual-class share firms do gain from becoming investable, but their gains are much lower than that of single-class share firms. These findings suggest that the failure on the part of firms to remedy agency conflicts prior to becoming investable only serves to greatly reduce, or even nullify their " investable premia" © 2011 Elsevier B.V.
0275-5319
10.1016/j.ribaf.2011.09.001
Grant Details