作者
Christos A. Alexakis, D Balios, G Papagelis, M Xanthakis
发表日期
2006/8/1
期刊
Managerial Finance
卷号
32
期号
8
页码范围
673-684
出版商
Emerald Group Publishing Limited
简介
Purpose
– To attempt to relate the mean returns and price volatility of a selected sample of 30 companies listed in Athens stock exchange (ATHEX), to the introduction of the legal framework concerning corporate governance.
Design/methodology/approach
– The essence of this approach is segmenting our whole sample into three subsamples with their key dates being the actual dates on which two legal frameworks related to the corporate governance has been introduced, we perform mean and variance equality tests to assess whether stock market returns and price volatility change, in a statistically significant way, in the three sub-periods.
Findings
– From our empirical study, it can be concluded that the volatility has been altered both during the sample periods used and the companies for which our methodology has been implemented …
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C A. Alexakis, D Balios, G Papagelis, M Xanthakis - Managerial Finance, 2006