Impact of Corporate Governance Score on Abnormal Returns and Financial Performance

Neelam Rani (), Surendra Singh Yadav () and Pramod Kumar Jain ()
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Neelam Rani: Indian Institute of Management Shillong
Surendra Singh Yadav: Indian Institute of Technology Delhi
Pramod Kumar Jain: Indian Institute of Technology Delhi

Chapter Chapter 7 in Mergers and Acquisitions, 2016, pp 169-182 from Springer

Abstract: Abstract The present chapter provides the empirical evidence on relationship between corporate governance scoreCorporate governance score and M&A performance in Indian context. The role of corporate governanceCorporate Governance has been explored on the measurement of the announcement effectsAnnouncement Effects on the acquiring firms. The empiricalEmpirical findings indicate that companies with high corporate governance score have positive abnormal returns in the short-termShort-term , better financial performanceFinancial performance , and higher valuationsValuations post-M&A, while companies with lower corporate governance score have lower financial performance and lower valuations post-M&A.

Keywords: Financial performance; Valuation; Price to book ratio; Price-earnings ratio; Agency theory (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:spr:isbchp:978-981-10-2203-6_7

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DOI: 10.1007/978-981-10-2203-6_7

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