Corporate governance and target price accuracy
Document Type
Article
Publication Date
7-1-2019
Abstract
The purpose of this study is to examine whether the quality of corporate governance has an impact on target price accuracy. We explore the relationship between target price accuracy and ownership structure, board composition, and disclosure using a sample of 17,334 target price observations in the Taiwan Stock Exchange between 2007 and 2016. We find that strong corporate governance improves target price accuracy. We further show that firms with better corporate governance experience a stronger market reaction to their target price announcements.
Identifier
85065875257 (Scopus)
Publication Title
International Review of Financial Analysis
External Full Text Location
https://doi.org/10.1016/j.irfa.2019.05.005
ISSN
10575219
First Page
93
Last Page
101
Volume
64
Grant
106-2410-H-194-031
Fund Ref
Ministry of Science and Technology
Recommended Citation
Cheng, Lee Young; Su, Yi Chen; Yan, Zhipeng; and Zhao, Yan, "Corporate governance and target price accuracy" (2019). Faculty Publications. 7488.
https://digitalcommons.njit.edu/fac_pubs/7488