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Governance Quality and Information Alignment

Elbadry, A, Gounopoulos, D and Skinner, F (2010) Governance Quality and Information Alignment In: Multinational Finance Society (MFS), 2010 - ?, Barcelona, Spain.

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CGAI_12_GQ Final.pdf - Accepted Version
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Abstract

We examine the effect of corporate governance mechanisms on asymmetric information. Using a sample of 392 non-financial UK companies listed in the London Stock Exchange we find that board independence, performance related executive compensation, the number of insiders and leverage are significantly negatively related to asymmetric information whereas the percentage of insider ownership and block ownership are significantly positively related to asymmetric information. The results suggest that UK companies have a high degree of compliance with the combined code on corporate governance and as a result mitigate asymmetric information while contributing towards resolving agency problems.

Item Type: Conference or Workshop Item (Paper)
Divisions: Faculty of Business, Economics and Law > Surrey Business School
Depositing User: Symplectic Elements
Date Deposited: 13 Jun 2012 10:40
Last Modified: 23 Sep 2013 19:04
URI: http://epubs.surrey.ac.uk/id/eprint/154541

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