经济与管理Issue(5)：49-58,10.
股价信息含量的公司治理效应--基于董事会结构与CEO变更的实证研究
Stock Price Informativeness as Governance---An Empirical Analysis Based on Board Structure and CEO Turnover
摘要
Abstract
From the perspective of board structure and CEO turnover, this paper analyses the corporate governance effect of stock price informativeness, which finds: The information content of stock price and the independence of the board of directors were significantly negatively correlated, in the company with higher stock price information content, the change of CEO is negatively related to stock returns, and the relationship does not exist in the company's share price information content. Research conclusions show, the information content of stock price has positive effect on corporate governance, and only continue to optimize the equity structure and corporate governance, strengthening investor protection and standardize the information disclosure system and encourage the development of market intermediaries, in order to enhance the information efficiency of the stock market, improve corporate governance.关键词
股价信息含量/公司治理/董事会独立性/CEO变更Key words
Stock price informativeness/Corporate governance/Board independence/CEO turnover分类
管理科学引用本文复制引用
熊家财..股价信息含量的公司治理效应--基于董事会结构与CEO变更的实证研究[J].经济与管理,2015,(5):49-58,10.基金项目
国家自然科学基金（71463022）；国家社科基金（14CJY064）；江西财经大学校级课题 （）
