Who Will Fare Better in a Political Crisis?
Because a political crisis may negatively affect stock returns, it is important for investors to know which firms will be affected less adversely by such a crisis. This study shows that firms that are controlled by families or have high growth opportunities will experience larger declines in their s...
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| Veröffentlicht in: | Emerging markets finance & trade 2014-05, Vol.50 (sup3), p.22-34 |
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| container_title | Emerging markets finance & trade |
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| creator | Huang, Hsu-Huei Chan, Min-Lee Yang, Ann Shawing |
| description | Because a political crisis may negatively affect stock returns, it is important for investors to know which firms will be affected less adversely by such a crisis. This study shows that firms that are controlled by families or have high growth opportunities will experience larger declines in their stock prices and a longer period of decline. Firms with outside directors, higher ratios of outside directors, or higher institutional shareholdings will experience smaller declines in their stock prices and a shorter period of decline. In other words, firms with better governance mechanisms and those considered value stocks will be less adversely affected by a political crisis; thus, their investors will suffer fewer negative effects. |
| doi_str_mv | 10.2753/REE1540-496X5003S302 |
| format | Article |
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| identifier | ISSN: 1540-496X |
| ispartof | Emerging markets finance & trade, 2014-05, Vol.50 (sup3), p.22-34 |
| issn | 1540-496X 1558-0938 |
| language | eng |
| recordid | cdi_proquest_journals_1609303431 |
| source | Jstor Complete Legacy; Business Source Complete |
| subjects | board composition corporate governance family-controlled business growth opportunities outside director Outside directors Political dissent Rates of return Stock prices Stockholders Studies Value stocks |
| title | Who Will Fare Better in a Political Crisis? |
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