کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5086994 | 1478203 | 2006 | 41 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The effects of corporate governance on firms' credit ratings
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
مدیریت، کسب و کار و حسابداری
حسابداری
پیش نمایش صفحه اول مقاله
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چکیده انگلیسی
We investigate whether firms with strong corporate governance benefit from higher credit ratings relative to firms with weaker governance. We document, after controlling for firm-specific risk characteristics, that credit ratings are negatively associated with the number of blockholders and CEO power, and positively related to takeover defenses, accrual quality, earnings timeliness, board independence, board stock ownership, and board expertise. We also provide evidence that CEOs of firms with speculative-grade credit ratings are overcompensated to a greater degree than their counterparts at firms with investment-grade ratings, thus providing one explanation for why some firms operate with weak governance.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Accounting and Economics - Volume 42, Issues 1â2, October 2006, Pages 203-243
Journal: Journal of Accounting and Economics - Volume 42, Issues 1â2, October 2006, Pages 203-243
نویسندگان
Hollis Ashbaugh-Skaife, Daniel W. Collins, Ryan LaFond,