Capital market governance: How do security laws affect market performance?
نویسندگان
چکیده
منابع مشابه
Capital Market Governance: How Do Security Laws Affect Market Performance?
This paper examines the link between capital market governance (CMG) and several key measures of market performance. Using detailed data from individual stock exchanges, we develop a composite CMG index that captures three dimensions of security laws: the degree of earnings opacity, the enforcement of insider laws, and the effect of removing short-selling restrictions. We find that improvements...
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ژورنال
عنوان ژورنال: Journal of Corporate Finance
سال: 2006
ISSN: 0929-1199
DOI: 10.1016/j.jcorpfin.2005.03.003