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          Volume 10, Number 2, May/August 2008 >

Please use this identifier to cite or link to this item: http://purl.umn.edu/60711

Title: EXISTE DIFERENÇA ENTRE A RENTABILIDADE DAS AÇÕES DAS EMPRESAS QUE ADOTAM GOVERNANÇA CORPORATIVA COM RELAÇÃO ÀS EMPRESAS DO MERCADO TRADICIONAL?
Other Titles: Is there a difference between the yields of companies that adopt corporate governance practices and those of the traditional market?
Authors: Bressan, Valeria Gama Fully
Bressan, Aureliano Angel
Authors (Email): Bressan, Valeria Gama Fully (valeria.fully@gmail.com)
Bressan, Aureliano Angel (bressan@face.ufmg.br)
Keywords: Stock Yield
Corporate Governance
Agency Theory
Asymmetric Information
Issue Date: 2008-05-05
Abstract: The study verifies, between march 2005 and march 2006, if there is any difference between the stock yields of a sample of companies listed in Bovespa that adopt the principles of Corporate Governance, in different levels, in relation to the companies of the traditional market. The data were extracted from Economatica’s database; 130 non-financial companies with higher liquidity stock were selected, of which 65 adopt Corporate Governance practices, and 65 operate according to the traditional market. To conduct the study, the Analysis of Variance (ANOVA) and Student’s t test were used. The results show that the mean yield of companies that adopt different Corporate Governance levels was superior to that of the companies which did not adopt these practices. These results demonstrate that a higher level of transparency, and consequently lower information asymmetry, can lead to a better company performance.
URI: http://purl.umn.edu/60711
Institution/Association: Organizações Rurais e Agroindustriais/Rural and Agro-Industrial Organizations>Volume 10, Number 2, May/August 2008
Total Pages: 14
From Page: 250
To Page: 263
Collections:Volume 10, Number 2, May/August 2008

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