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Do better governed firms make more informative disclosures? Canadian evidence

Research output: Working paper

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Do better governed firms make more informative disclosures? Canadian evidence. / Beekes, W A; Brown, P; Chin, G.
Lancaster University: The Department of Accounting and Finance, 2006. (Accounting and Finance Working Paper Series).

Research output: Working paper

Harvard

Beekes, WA, Brown, P & Chin, G 2006 'Do better governed firms make more informative disclosures? Canadian evidence' Accounting and Finance Working Paper Series, The Department of Accounting and Finance, Lancaster University.

APA

Beekes, W. A., Brown, P., & Chin, G. (2006). Do better governed firms make more informative disclosures? Canadian evidence. (Accounting and Finance Working Paper Series). The Department of Accounting and Finance.

Vancouver

Beekes WA, Brown P, Chin G. Do better governed firms make more informative disclosures? Canadian evidence. Lancaster University: The Department of Accounting and Finance. 2006. (Accounting and Finance Working Paper Series).

Author

Beekes, W A ; Brown, P ; Chin, G. / Do better governed firms make more informative disclosures? Canadian evidence. Lancaster University : The Department of Accounting and Finance, 2006. (Accounting and Finance Working Paper Series).

Bibtex

@techreport{75cba64f4f00481187e2b522fbbbd280,
title = "Do better governed firms make more informative disclosures? Canadian evidence",
abstract = "Using a Canadian sample, we address Beekes and Brown{\textquoteright}s (2005) external validity concerns by replicating their result that corporate governance influences the timeliness and informativeness of corporate disclosures. Based largely on their approach, we find Canadian firms with better governance structures release more documents to the share market, and share prices integrate information more rapidly. These firms also attract a larger following of analysts, who make forecasts that are less biased. However, three other predictions concerning analyst forecasts are not borne out. We interpret our results as, on the whole, confirming the Beekes and Brown conclusion that corporate governance standards can play a significant role in determining the efficiency of a country{\textquoteright}s equity market.",
keywords = "Corporate governance quality, Disclosure frequency, Analysts{\textquoteright} forecasts, Price discovery, Timeliness",
author = "Beekes, {W A} and P Brown and G Chin",
year = "2006",
language = "English",
series = "Accounting and Finance Working Paper Series",
publisher = "The Department of Accounting and Finance",
type = "WorkingPaper",
institution = "The Department of Accounting and Finance",

}

RIS

TY - UNPB

T1 - Do better governed firms make more informative disclosures? Canadian evidence

AU - Beekes, W A

AU - Brown, P

AU - Chin, G

PY - 2006

Y1 - 2006

N2 - Using a Canadian sample, we address Beekes and Brown’s (2005) external validity concerns by replicating their result that corporate governance influences the timeliness and informativeness of corporate disclosures. Based largely on their approach, we find Canadian firms with better governance structures release more documents to the share market, and share prices integrate information more rapidly. These firms also attract a larger following of analysts, who make forecasts that are less biased. However, three other predictions concerning analyst forecasts are not borne out. We interpret our results as, on the whole, confirming the Beekes and Brown conclusion that corporate governance standards can play a significant role in determining the efficiency of a country’s equity market.

AB - Using a Canadian sample, we address Beekes and Brown’s (2005) external validity concerns by replicating their result that corporate governance influences the timeliness and informativeness of corporate disclosures. Based largely on their approach, we find Canadian firms with better governance structures release more documents to the share market, and share prices integrate information more rapidly. These firms also attract a larger following of analysts, who make forecasts that are less biased. However, three other predictions concerning analyst forecasts are not borne out. We interpret our results as, on the whole, confirming the Beekes and Brown conclusion that corporate governance standards can play a significant role in determining the efficiency of a country’s equity market.

KW - Corporate governance quality

KW - Disclosure frequency

KW - Analysts’ forecasts

KW - Price discovery

KW - Timeliness

M3 - Working paper

T3 - Accounting and Finance Working Paper Series

BT - Do better governed firms make more informative disclosures? Canadian evidence

PB - The Department of Accounting and Finance

CY - Lancaster University

ER -