Country governance and international equity returns
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DOI: 10.1016/j.jbankfin.2020.105986
Abstract: Monthly equity returns in countries with strong governance lead monthly equity returns in countries with weak governance. This predictability is robust to alternative ways of measuring country governance, and holds in and out-of-sample at both… read more here.
Keywords: country; country governance; governance; equity returns ... See more keywords
Weak Governance by Informed Active Shareholders
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DOI: 10.1093/rfs/hhaa052
Abstract: Do informed shareholders who can influence corporate decisions improve governance? We demonstrate this may not be generally true in a model of takeovers. The model suggests that a shareholder’s ability to collect information and trade… read more here.
Keywords: value; weak governance; active shareholders; governance informed ... See more keywords