Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/206335 
Erscheinungsjahr: 
2016
Quellenangabe: 
[Journal:] BRQ Business Research Quarterly [ISSN:] 2340-9436 [Volume:] 19 [Issue:] 1 [Publisher:] Elsevier España [Place:] Barcelona [Year:] 2016 [Pages:] 13-25
Verlag: 
Elsevier España, Barcelona
Zusammenfassung: 
This work adds to the debate on corporate governance regulations and its effects on performance and firm value. The paper empirically tests whether there is a significant price reaction to corporate governance announcements following the publication of the Aldama Code of Best practice (2003) in Spain. In particular, news announcements are classified according to the code principles to distinguish among different dimensions of corporate governance and have a better understanding of investors’ reaction. Results show first, that investors react to this kind of practices, second, that the sign of their reaction depends crucially on the nature and extension of the recommendation and finally that firms that disclose more do not enjoy higher market prices or return on the medium-long term."
Schlagwörter: 
Corporate governance
Best practice
Codes
Price reaction
Event studies
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