Corporate Governance and Firm Performance

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Wiley, Nov 9, 2000 - Business & Economics - 33 pages
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Many studies indicate that a company's stock price decreases when the company adds restrictions regarding corporate governance to its charter or bylaws. The authors of this monograph analyzed the effect of 20 different governance provisions and report that companies with the fewest restrictive provisions in their industries have the best industry-adjusted performance.

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About the author (2000)

Jonathan M. Karpoff is the Norman J. Metcalfe Professor of Finance at the University of Washington's School of Business. His research spans an unusual variety of topics, including fisheries management, natural resource regulation, trading volume, insider trading, dividend policy, organizational structure and performance, antitakeover regulation, shareholder activism, corporate governance, and the causes and consequences of corporate illegal behavior.