Corporate Governance and Firm Value: Econometric Modelling and Analysis of Emerging and Developed Financial Markets

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Emerald Group Publishing, 2008 - Business & Economics - 211 pages
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Corporate governance is a subject of high academic and practical significance in contemporary business. The book determines and analyses the relationship between corporate governance and the value of a firm in emerging and developed financial markets by using sophisticated econometric methods and models. The results of the study show that corporate governance does matter - there is a positive relationship between corporate governance and the value of a firm in these financial markets, although the nature of these relationships differ between emerging and developed financial markets because of the individual characteristics of these markets. This book makes an original contribution by undertaking a very comprehensive comparative econometric study on the poorly researched topic of the relationship between corporate governance and firm value in emerging and developed markets.
 

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Contents

Introduction
1
Corporate Governance and the Value of a Firm The Need for a New Model
11
A New Conceptual Framework Hypotheses and Model Development
33
Methodology and Econometric Framework
51
Econometric Results and Discussion
71
Implications of the Results Corporate Governance and the Value of a Firm in Developing and Developed Financial Markets
97
Summary Findings and Conclusions
125
Appendices
141
References
195
Author Index
205
Subject Index
209
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About the author (2008)

SARDAR M. N. ISLAM is Professor of Welfare and Environmental Economics and Director of the Sustainable Growth Program at the Centre for Strategic Studies, Victoria University, Australia. CHRISTINE MAK is a research scholar at the Centre for Strategic Studies, Victoria University, Australia.

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