Based on his Corporate Governance Rating (CGR) for German firms, Andreas Schillhofer documents a positive relationship between the CGR and firm value. In addition, there is strong evidence that expected returns are negatively correlated with the CGR if dividend yields and price-earnings ratios are used as proxies for the cost of capital.
Publisher: Deutscher Universitats-Verlag ISBN: 9783824478880 Number of pages: 212 Weight: 281 g Dimensions: 210 x 148 x 12 mm Edition: 2003 ed.
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