Earticle

초록

영어

The cost of equity capital is the expected rate of return that investors provide equity capital to listed companies, it reflect the protection degree of corporate governance mechanisms to the interests of investors. The more effective corporate governance mechanism is, the lower cost of equity capital is. As a factor of influencing corporate operation as well as governance, uncertainty will change such relationship. In perspective of board monitoring, comparing the results of multiple regression with panel data regression, this paper confirm that the uncertainty is positive correlation to the cost of equity capital, the board monitoring is negative correlation to the latter. More importantly, the relationship between the board monitoring and the cost of equity capital will become less significant when the uncertainty the company facing is increasing, which means that the uncertainty will weaken governance efficiency.

목차

Abstract
 1. Introduction
 2. Literatures review
  2.1 Corporate Governance and the Cost of Equity Capital
  2.2 Uncertainty and Corporate Governance
 3. Research Hypothesis
 4. Variable and Models
  4.1. Variable Definitions
  4.2. Models
 5. Empirical Study
  5.1 Descriptive Statistics
  5.2 Multiple Regression Analysis and Panel Data Regression
  5.3. Robustness test
 6. Conclusion
 Acknowledgement
 References

키워드

저자

• Xiaowei Tan [ School of Management, Hefei University of Technology, NO. 193 of Tunxi Road, Hefei, China, 230009 ]
• Zhongming Ding [ School of Management, Hefei University of Technology, NO. 193 of Tunxi Road, Hefei, China, School of Finance, Anhui University of Finance and Economics, NO.255 of Hongye Road, Bengbu, China, 233041 ]

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  International Journal of Smart Home

• 간기

  격월간

• pISSN

  1975-4094

• 수록기간

  2008~2016

• 십진분류

  KDC 505 DDC 605