Corporate Governance and Liquidity: An Exploration of Voluntary Disclosure, Analyst Coverage and Adverse Selection as Mediating Mechanisms

• Main Authors: GOH, Beng Wee, NG, Jeffrey, OW YONG, Kevin
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2009
• Subjects: Corporate governance; voluntary disclosure; analysts; adverse selection; liquidity; Accounting; Business Law, Public Responsibility, and Ethics; Finance and Financial Management
• Online Access: https://ink.library.smu.edu.sg/soa_research/1; http://aaahq.org/AM2009/abstract.cfm?submissionID=1489
• Institution: Singapore Management University

Our paper focus on how voluntary public disclosure, analyst coverage and adverse selection among investors mediate this relation between corporate governance and liquidity. Our results show that better corporate governance, in terms of greater board independence and greater institutional monitoring,...