Corporate governance analysts and firm value: Australian evidence

Peng Huang, Yue Lu and Marvin Wee

Pacific-Basin Finance Journal, 2020, vol. 63, issue C

Abstract: This paper replicates the UK findings in Lehmann (2019) and examines the value implication of corporate governance analysts in the Australian setting. Theoretically, corporate governance analysts create firm value via monitoring the management, enhancing information production and dissemination, and increasing investor recognition. However, we do not find this effect in Australia. Using an exogenous increase in coverage by corporate governance analysts, we find that unlike the case with UK firms, corporate governance analysts do not have any significant effect on firm value in Australia. Different sample compositions, macroeconomic conditions, and institutional settings might be the possible reasons for our insignificant results.

Keywords: Corporate governance analysts; Firm value; Exogenous shock on analyst coverage (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0927538X20304315
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:pacfin:v:63:y:2020:i:c:s0927538x20304315

DOI: 10.1016/j.pacfin.2020.101430

Access Statistics for this article

Pacific-Basin Finance Journal is currently edited by K. Chan and S. Ghon Rhee

More articles in Pacific-Basin Finance Journal from Elsevier
Bibliographic data for series maintained by Catherine Liu ().