Corporate governance and equity returns
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2012
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2555
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eng
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119 leaves : ; 30 cm.
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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
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National Institute of Development Administration. Library and Information Center
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Jitipol Puksamatanan (2012). Corporate governance and equity returns. Retrieved from: http://repository.nida.ac.th/handle/662723737/734.
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Corporate governance and equity returns
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Abstract
This study explains the concept of corporate governance and its effects on equity returns. It explains the differences between strong and weak corporate governance firms in term of risks and returns. From the theoretical point of view, the study incorporates the model of corporate governance and firms’ performances to explain the effects from different levels of corporate governance practice on the firms. From the empirical view point, it finds that the stronger corporate governance firms are exposed to lower magnitude and fewer types of systematic risks, as opposed to the weaker corporate governance firms. In general, the strong corporate governance firms are generating significantly better return compares to the weak governance firms. In addition, the risks and returns of firms with strong corporate governance are mostly unaffected by the crisis, while most firms in the market suffered from worsen performances. Lastly, on average the risks and returns of the firms seem to become worse, when the firms are downgraded to the lower levels of corporate governance.
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Thesis ( )--National Institute of Development Administration.