C****g
发帖数: 2220 | 1 2007年的时候，kayaker还没去吧
两人擦肩而过啊
Title: 法律环境、公司治理与企业价值 : 基于纽交所上市电信企业的实证研究
Call number: LG51 .H577P GSB 2007 LiH
Author: 李慧镝
Other Author: 香港理工大学. 工商管理研究院
Publisher: 香港理工大学
Creation Date: 2007
Format: ix, 126 leaves : ill., charts (some col.) ; 30 cm.
Notes: "2007年12月"
"Presented to the Graduate School of Business, The Hong Kong Polytechnic
University in partial fulfillment of the requirements for the Degree of
Doctor of Management"--T.p.
Language: Abstract also in English.
Other title: Legal environment , corporate governance and firm value : an
empirical study of the telecommunications firms traded in NYSE.
Subjects: Hong Kong Polytechnic University -- Dissertations ;
Telecommunication -- Management ; Electronic dissertations
Dissertation: Thesis (D.Mgt.)--The Hong Kong Polytechnic University, 2007.
Bibliography: Includes bibliographical references. | C****g
发帖数: 2220 | 2 法律環境、公司治理與企業價值 : 基於紐交所上市電信企業的實證研究
Author: 李慧鏑
Li, Huidi
Title: 法律環境、公司治理與企業價值 : 基於紐交所上市電信企業的實證研究
Fa lu huan jing, gong si zhi li yu qi ye jia zhi : ji yu Niu jiao suo shang
shi dian xin qi ye de shi zheng yan jiu
Legal environment, corporate governance and firm value : an empirical study
of the telecommunications firms traded in NYSE
Degree: D.Mgt.
Year: 2007
Subject: Hong Kong Polytechnic University -- Dissertations.
Telecommunication -- Management.
Department: Graduate School of Business
Pages: ix, 126 leaves : ill., charts (some col.) ; 30 cm.
Language: Chinese
InnoPac Record: http://library.polyu.edu.hk/record=b2251310
URI: http://theses.lib.polyu.edu.hk/handle/200/3966
Abstract: This dissertation examines the relationship between legal
environment, corporate governance and firm value using a sample of 84 global
telecommunications firms traded on the New York Stock Exchange. Although
the sample firms are traded on the same exchange and are subject to the same
listing requirements in terms of information disclosure and regulations,
they are incorporated and conduct their businesses in many countries with
different legal environments and different governance structures. The unique
sample provides us with an excellent opportunity to assess the impact of
both external and internal governance mechanisms. Three major findings with
regard to the relationship between firm value and internal corporate
governance mechanisms are as follows: 1) Firm value is negatively correlated
with the level of state-ownership; 2) Firm value is positively correlated
with the proportion of independent directors; and 3) Firm value first rises
and then declines as ownership concentration increases, exhibiting an
inverse U-shaped relationship between the two. Externally, firm value is
positively correlated with both the level of shareholder protection and
judicial efficiency in a country. I then investigate the interactive effect
of both the internal and external governance mechanisms with the following
results: l)Firm value is correlated with state-ownership negatively in
countries with strong shareholder protection, but positively in countries
with weak shareholder protection; 2) Firm value is correlated with the
proportion of independent directors only in countries with strong
shareholder protection; and 3) In counties with strong shareholder
protection, the turning point in the inverse U-shaped relationship between
firm value and ownership concentration is higher, implying that it is harder
for insiders to expropriate minority shareholders in those countries. |
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