政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/129865

English | 正體中文 | 简体中文 | Post-Print筆數 : 27 | Items with full text/Total items : 113303/144284 (79%)
Visitors : 50805922 Online Users : 566

RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.

Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer

政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 > Item 140.119/129865

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/129865

Title:	The Effects of Executive Compensation and Outside Monitoring on Firms` Pre-repurchase Disclosure Behavior and Post-repurchase Performance
Authors:	周冠男 Chou, Robin K. 陳聖賢 Chen, Sheng-Syan 李芸綺 Lee, Yun-Chi
Contributors:	財管系
Keywords:	Corporate governance;Repurchase;Voluntary disclosure;Long-term performance
Date:	2020-01
Issue Date:	2020-05-26 13:41:52 (UTC+8)
Abstract:	We show that corporate governance mechanisms play an important role in controlling managers’ opportunistic behavior. Low executive equity compensation and a high intensity of outside monitoring help to discourage undesirable self-interested disclosure decisions by management before share repurchases. Corporate governance mechanisms also have a significant impact on long-run abnormal stock prices and operating performance. Firms that manipulate pre-repurchase disclosures experience positive long-term abnormal stock returns. However, we do not find that these firms experience positive long-run operating performance. Corporate governance mechanisms significantly attenuate the tendency toward negative pre-repurchase disclosures and their effects on stock prices and operating performance.
Relation:	Review of Quantitative Finance and Accounting, Vol.54, pp.111-158
Data Type:	article
DOI 連結:	https://doi.org/10.1007/s11156-018-00785-1
DOI:	10.1007/s11156-018-00785-1
Appears in Collections:	[財務管理學系] 期刊論文

Files in This Item:

File	Description	Size	Format
347.pdf		1519Kb	Adobe PDF2	234	View/Open

社群 sharing

著作權政策宣告 Copyright Announcement

1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.

Loading...