scholarly journals Stock Market Returns, Corporate Governance and Capital Market Equilibrium

2013 ◽  
Author(s):  
Bruno Maria Parigi ◽  
Loriana Pelizzon ◽  
Ernst-Ludwig von Thadden
Keyword(s):  
Corporate Governance ◽  
Stock Market ◽  
Capital Market ◽  
Market Equilibrium ◽  
Market Returns ◽  
Stock Market Returns

Media Coverage of Corporate Governance Scandals and Stock Market Returns

2011 ◽  
Author(s):  
Raymond Siu Yeung Chan ◽  
See Tin Tang ◽  
Roy F. Ying ◽  
Sun Wing Tam
Keyword(s):  
Corporate Governance ◽  
Stock Market ◽  
Media Coverage ◽  
Market Returns ◽  
Stock Market Returns

The Impact of Corporate Governance Press News on Stock Market Returns

2010 ◽  
Vol 17 (1) ◽  
pp. 100-119 ◽  
Author(s):  
Alessandro Carretta ◽  
Vincenzo Farina ◽  
Duccio Martelli ◽  
Franco Fiordelisi ◽  
Paola Schwizer
Keyword(s):  
Corporate Governance ◽  
Stock Market ◽  
Market Returns ◽  
Stock Market Returns ◽  
The Impact

scholarly journals Family affairs – Corporate governance involvement of families and stock market returns

2021 ◽  
Vol 18 (2) ◽  
pp. 350-364
Author(s):  
Fabio Franzoi ◽  
Mark Mietzner
Keyword(s):  
Corporate Governance ◽  
Stock Market ◽  
Firm Value ◽  
Empirical Relation ◽  
Voting Rights ◽  
Family Influence ◽  
Large Set ◽  
Market Returns ◽  
Stock Market Returns ◽  
Portfolio Returns

This study explores the association between family influence in firms and stock market returns in Germany, a country with a less investor-friendly corporate governance system where shareholders cannot directly influence top managers. The study forms portfolios of firms with and without the influence of families as shareholders or members of the firm’s legal bodies. The models estimate portfolio returns from 2003-2013 using a four-factor model. Results suggest that corporate governance is highly correlated with stock returns in Germany. Specifically, they document a significant relationship between family influence and firm valuation. Firms with stronger family influence via voting rights and board-participation are found to have a higher firm value (annualized excess return: 0.48%-6.00%). The study interprets this to mean that families may improve a firm’s internal corporate governance, as their strong motivation and ability to become actively engaged in a firm’s daily operations or to assume a monitoring role distinguishes them from other corporate blockholders. The results add to those of an increasing number of publications finding a positive association between strong family governance and performance. They contribute to a year-long scholarly exploration of performance differences among family and non-family businesses, mainly by defining the former by mere ownership. The study combines a large set of governance provisions into a novel, transparent, and replicable index of family involvement and then estimates the empirical relation with market performance. The index captures influence via shareholder voting rights, considers direct influence of owners on day-to-day operations, and controls for indirect influence via supervisory board. AcknowledgmentThe authors acknowledge support by the Open Access Publication Funds of the HTWK Leipzig.

Relationship between Foreign Portfolio Investments (FPI), Domestic Institutional Investors, and Stock Market Returns in India

GIS Business ◽  
2017 ◽  
Vol 12 (6) ◽  
pp. 1-9
Author(s):  
Dhananjaya Kadanda ◽  
Krishna Raj
Keyword(s):  
Stock Market ◽  
Institutional Investors ◽  
Negative Relationship ◽  
Trading Strategies ◽  
Market Returns ◽  
Stock Market Returns ◽  
Foreign Portfolio Investment ◽  
Stock Market Return ◽  
Indian Stock Market ◽  
Feedback Trading

The present article attempts to understand the relationship between foreign portfolio investment (FPI), domestic institutional investors (DIIs), and stock market returns in India using high frequency data. The study analyses the trading strategies of FPIs, DIIs and its impact on the stock market return. We found that the trading strategies of FIIs and DIIs differ in Indian stock market. While FIIs follow positive feedback trading strategy, DIIs pursue the strategy of negative feedback trading which was more pronounced during the crisis. Further, there is negative relationship between FPI flows and DII flows. The results indicate the importance of developing strong domestic institutional investors to counteract the destabilising nature FIIs, particularly during turbulent times.

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