{"title":"合规与公司价值:市场对公司治理缺失的反应","authors":"Amy McDonough, Stefan Sackmann","doi":"10.1109/CEC.2009.60","DOIUrl":null,"url":null,"abstract":"This study examines the impact of reported lapses in corporate governance, using event study analysis to explore the announcement effect of public reprimand letters issued for violations of corporate governance regulations. No evidence is found that the stock of companies receiving such a letter are subject to negative abnormal returns, thus it appears that investors do not consider the announcement to contain new relevant information for their assessment of company value.","PeriodicalId":384060,"journal":{"name":"2009 IEEE Conference on Commerce and Enterprise Computing","volume":"25 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2009-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":"{\"title\":\"Compliance and Company Value: How Markets React to Reported Lapses in Corporate Governance\",\"authors\":\"Amy McDonough, Stefan Sackmann\",\"doi\":\"10.1109/CEC.2009.60\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This study examines the impact of reported lapses in corporate governance, using event study analysis to explore the announcement effect of public reprimand letters issued for violations of corporate governance regulations. No evidence is found that the stock of companies receiving such a letter are subject to negative abnormal returns, thus it appears that investors do not consider the announcement to contain new relevant information for their assessment of company value.\",\"PeriodicalId\":384060,\"journal\":{\"name\":\"2009 IEEE Conference on Commerce and Enterprise Computing\",\"volume\":\"25 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2009-07-20\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"2\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"2009 IEEE Conference on Commerce and Enterprise Computing\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1109/CEC.2009.60\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"2009 IEEE Conference on Commerce and Enterprise Computing","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1109/CEC.2009.60","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Compliance and Company Value: How Markets React to Reported Lapses in Corporate Governance
This study examines the impact of reported lapses in corporate governance, using event study analysis to explore the announcement effect of public reprimand letters issued for violations of corporate governance regulations. No evidence is found that the stock of companies receiving such a letter are subject to negative abnormal returns, thus it appears that investors do not consider the announcement to contain new relevant information for their assessment of company value.
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