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Corporate valuation around the world: The effects of governance, growth, and openness

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  • Chua, Choong Tze
  • Eun, Cheol S.
  • Lai, Sandy

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  • Chua, Choong Tze & Eun, Cheol S. & Lai, Sandy, 2007. "Corporate valuation around the world: The effects of governance, growth, and openness," Journal of Banking & Finance, Elsevier, vol. 31(1), pages 35-56, January.
    • Handle: RePEc:eee:jbfina:v:31:y:2007:i:1:p:35-56
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    3. Mark H. Lang & Karl V. Lins & Darius P. Miller, 2003. "ADRs, Analysts, and Accuracy: Does Cross Listing in the United States Improve a Firm's Information Environment and Increase Market Value?," Journal of Accounting Research, Wiley Blackwell, vol. 41(2), pages 317-345, May.
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    7. Rafael La Porta & Florencio Lopez‐De‐Silanes & Andrei Shleifer, 1999. "Corporate Ownership Around the World," Journal of Finance, American Finance Association, vol. 54(2), pages 471-517, April.
    8. Lee, Charles M.C. & Ng, David T.C., 2002. "Corruption and International Valuation: Does Virtue Pay?," Working Papers 127288, Cornell University, Department of Applied Economics and Management.
    9. Fernandez, Pablo, 2004. "Reply to "The value of tax shields is equal to the present value of tax shields"," IESE Research Papers D/576, IESE Business School.
    10. Utpal Bhattacharya & Hazem Daouk, 2002. "The World Price of Insider Trading," Journal of Finance, American Finance Association, vol. 57(1), pages 75-108, February.
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    14. Peter Blair Henry, 2000. "Stock Market Liberalization, Economic Reform, and Emerging Market Equity Prices," Journal of Finance, American Finance Association, vol. 55(2), pages 529-564, April.
    15. McConnell, John J. & Muscarella, Chris J., 1985. "Corporate capital expenditure decisions and the market value of the firm," Journal of Financial Economics, Elsevier, vol. 14(3), pages 399-422, September.
    16. Mark L. Defond & Mingyi Hung, 2004. "Investor Protection and Corporate Governance: Evidence from Worldwide CEO Turnover," Journal of Accounting Research, Wiley Blackwell, vol. 42(2), pages 269-312, May.
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    Cited by:

    1. Randall Morck, 2011. "Finance and Governance in Developing Economies," Annual Review of Financial Economics, Annual Reviews, vol. 3(1), pages 375-406, December.
    2. Elmar Gerum & Sascha H. Mölls & Chunqian Shen, 2011. "Kapitalmarktorientierte Rechnungslegung in Deutschland zwischen Anspruch und Realität — Theorie und Empirie," Schmalenbach Journal of Business Research, Springer, vol. 63(6), pages 534-577, September.
    3. Geert Bekaert & Campbell R. Harvey & Christian T. Lundblad & Stephan Siegel, 2011. "What Segments Equity Markets?," The Review of Financial Studies, Society for Financial Studies, vol. 24(12), pages 3841-3890.
    4. Benno Feldmann & Wipu Laosirirat, 2015. "Economics Integration in ASEAN: Corporate Valuation in Emerging Markets, Regionalization and Globalization," Journal of Business & Management (COES&RJ-JBM), , vol. 3(1), pages 335-347, January.
    5. Ana C. Silva & Gonzalo A. Chavez & Roy A. Wiggins III, 2015. "Earnings Management, Country Governance, and Cross-listing," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 7(1), pages 4-20, January.
    6. Wei Shi & Kevin Veenstra, 2021. "The Moderating Effect of Cultural Values on the Relationship Between Corporate Social Performance and Firm Performance," Journal of Business Ethics, Springer, vol. 174(1), pages 89-107, November.
    7. Holm, Claus & Schøler, Finn, 2008. "Reduction of Asymmetric Information through Corporate Governance Mechanisms : The Importance of Ownership Dispersion and International," Accounting Research Center Working Papers A-2008-02, University of Aarhus, Aarhus School of Business, Department of Business Studies.
    8. Iñigo Fernández & Víctor M. González, 2017. "Corporate valuation and social capital: a cross-country analysis," Applied Economics, Taylor & Francis Journals, vol. 49(37), pages 3770-3781, August.
    9. Maung, Min & Shedden, Myles & Wang, Yuan & Wilson, Craig, 2019. "The investment environment and cross-border merger and acquisition premiums," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 59(C), pages 19-35.
    10. Sue-Fung Wang & Yow-Jen Jou & Ke-Chiun Chang & Kun-Wei Wu, 2014. "Industry Competition, Agency Problem, and Firm Performance," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(4), pages 76-93, December.
    11. Smirnova, Elena, 2008. "Depositary receipts and firm value: Evidence from Central Europe and Russia," Emerging Markets Review, Elsevier, vol. 9(4), pages 266-279, December.
    12. Dominic Ose Erah & Eyenubo Samuel & Famous Izedonmi, 2012. "Chief Executive Officer Duality And Financial Performance of Firms In Nigeria," International Journal of Business and Social Research, MIR Center for Socio-Economic Research, vol. 2(6), pages 125-134, November.
    13. Autore, Don M. & Kovacs, Tunde & Sharma, Vivek, 2009. "Do analyst recommendations reflect shareholder rights?," Journal of Banking & Finance, Elsevier, vol. 33(2), pages 193-202, February.
    14. Morey, Matthew & Gottesman, Aron & Baker, Edward & Godridge, Ben, 2009. "Does better corporate governance result in higher valuations in emerging markets? Another examination using a new data set," Journal of Banking & Finance, Elsevier, vol. 33(2), pages 254-262, February.
    15. Jochem Axel, 2010. "International Financial Competitiveness and Incentives to Foreign Direct Investment," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 230(1), pages 42-58, February.
    16. Rashid Ameer, 2012. "Impact of cash holdings and ownership concentration on firm valuation," Review of Accounting and Finance, Emerald Group Publishing Limited, vol. 11(4), pages 448-467, October.
    17. Shailesh Rastogi & Bhakti Agarwal, 2023. "Transparency and disclosure (TD) and valuation of Indian banks," Bank i Kredyt, Narodowy Bank Polski, vol. 54(5), pages 519-540.
    18. Almaskati, Nawaf & Bird, Ron & Lu, Yue, 2020. "Corporate governance, institutions, markets, and social factors," Research in International Business and Finance, Elsevier, vol. 51(C).
    19. Baschieri, Giulia & Carosi, Andrea & Mengoli, Stefano, 2015. "Local IPOs, local delistings, and the firm location premium," Journal of Banking & Finance, Elsevier, vol. 53(C), pages 67-83.
    20. Mamunur Rashid & Fauzias Mat Nor & Izani Ibrahim, 2013. "Evidence of Dividend Catering Theory in Malaysia: Implications for Investor Sentiment," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 7(4), December.
    21. Ferris, Stephen P. & Jayaraman, Narayanan & Sabherwal, Sanjiv, 2009. "Catering effects in corporate dividend policy: The international evidence," Journal of Banking & Finance, Elsevier, vol. 33(9), pages 1730-1738, September.
    22. Saona, Paolo & San Martín, Pablo, 2016. "Country level governance variables and ownership concentration as determinants of firm value in Latin America," International Review of Law and Economics, Elsevier, vol. 47(C), pages 84-95.
    23. Ujjayini Roy & Indrani Chakraborty, 2023. "Market concentration, agency cost and firm performance: a case study on Indian corporate firms," Economic Change and Restructuring, Springer, vol. 56(4), pages 2645-2693, August.
    24. Dominic Ose Erah & Eyenubo Samuel & Famous Izedonmi, 2012. "Chief Executive Officer Duality And Financial Performance of Firms In Nigeria," International Journal of Business and Social Research, LAR Center Press, vol. 2(6), pages 125-134, November.
    25. Don M. Autore & Jeffrey Hobbs & Tunde Kovacs & Vivek Singh, 2019. "Do shareholder rights influence the direct costs of issuing seasoned equity?," Review of Quantitative Finance and Accounting, Springer, vol. 52(1), pages 1-33, January.

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