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Corporate governance and the information content of earnings announcements : a cross-country analysis
Using firm‐level data from 23 developed markets, we document a positive association between overall firm‐level governance quality and the informativeness of earnings announcements measured by abnormal stock return variance. ...
Are institutional investors with multiple blockholdings effective monitors?
We examine whether institutions’ monitoring effectiveness is related to the number of their blockholdings. We find that the number of blocks that a firm's large institutions hold is positively associated with forced chief ...