Financial development, corporate governance and cost of equity capital
Paper
Paper/Presentation Title | Financial development, corporate governance and cost of equity capital |
---|---|
Presentation Type | Paper |
Authors | Gupta, Kartick (Author), Krishnamurti, Chandrasekhar (Author) and Tourani-Rad, Alireza (Author) |
Editors | Balachandran, Balasingham |
Journal or Proceedings Title | Proceedings of the Inaugural Finance and Corporate Governance Conference (FCGC 2010) |
Number of Pages | 42 |
Year | 2010 |
Place of Publication | Melbourne, Australia |
Web Address (URL) of Paper | http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1522913## |
Web Address (URL) of Conference Proceedings | http://www.latrobe.edu.au/__data/assets/file/0003/67305/2010-gsm-fcgc-program.pdf |
Conference/Event | Inaugural Finance and Corporate Governance Conference (FCGC 2010) |
Event Details | Inaugural Finance and Corporate Governance Conference (FCGC 2010) Parent Finance and Corporate Governance Conference Event Date 07 to end of 09 Apr 2010 Event Location Melbourne, Australia |
Abstract | This paper explicitly examines the interactive impact of country level legal and financial development, and firm level governance attributes on the cost of equity capital. Using a comprehensive sample of 7380 firm years drawn from 22 developed countries, we show that firm level governance attributes affect the cost of equity capital only in the Common Law countries with high level of financial development. Our study is the first to highlight the complementary effects of legal origin, financial development and firm level governance attributes in influencing the cost of equity capital. |
Keywords | corporate governance; financial development; legal origin; implied cost of equity capital |
Related Output | |
Is identical to | Financial development, corporate governance and cost of equity capital |
ANZSRC Field of Research 2020 | 350202. Finance |
350799. Strategy, management and organisational behaviour not elsewhere classified | |
480699. Private law and civil obligations not elsewhere classified | |
Public Notes | Same paper as 19814 (different conference). Copyright La Trobe University. |
Byline Affiliations | Auckland University of Technology, New Zealand |
Monash University | |
La Trobe University | |
Institution of Origin | University of Southern Queensland |
https://research.usq.edu.au/item/q0y4y/financial-development-corporate-governance-and-cost-of-equity-capital
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