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@article{ART001735380},
author={노승재},
title={The Effects of Appointment or Dismissal of Outside Directors on Corporate Governance and Stock Price},
journal={Journal of Knowledge Information Technology and Systems},
issn={1975-7700},
year={2012},
volume={7},
number={6},
pages={47-62}

TY - JOUR
AU - 노승재
TI - The Effects of Appointment or Dismissal of Outside Directors on Corporate Governance and Stock Price
JO - Journal of Knowledge Information Technology and Systems
PY - 2012
VL - 7
IS - 6
PB - Korea Knowledge Information Technology Society
SP - 47
EP - 62
SN - 1975-7700
AB - This study examines the effects of corporate governance on Korean firm values. In particular, with regard to the quality of corporate governance structure, I look into the stock price impacts of the appointment or dismissal of outside directors. I used event study and t-test methods were used for the empirical tests on the effects of the announcement effects of the appointment and dismissal of outside directors. As for the announcement effect of the appointment or dismissal of outside directors, I found that the stock price reaction depended on the quality of corporate governance structure, and further that the dismissal of outside directors, especially for firms with inferior corporate governance structure has a negative impact on stock prices, possibly due to the information asymmetry problem.
KW - corporate governance;appointment of director;dismissal of director;information asymmetry;corporate governance structure.
DO -
UR -
ER -

노승재. (2012). The Effects of Appointment or Dismissal of Outside Directors on Corporate Governance and Stock Price. Journal of Knowledge Information Technology and Systems, 7(6), 47-62.

노승재. 2012, "The Effects of Appointment or Dismissal of Outside Directors on Corporate Governance and Stock Price", Journal of Knowledge Information Technology and Systems, vol.7, no.6 pp.47-62.

노승재 "The Effects of Appointment or Dismissal of Outside Directors on Corporate Governance and Stock Price" Journal of Knowledge Information Technology and Systems 7.6 pp.47-62 (2012) : 47.

노승재. The Effects of Appointment or Dismissal of Outside Directors on Corporate Governance and Stock Price. 2012; 7(6), 47-62.

노승재. "The Effects of Appointment or Dismissal of Outside Directors on Corporate Governance and Stock Price" Journal of Knowledge Information Technology and Systems 7, no.6 (2012) : 47-62.

노승재. The Effects of Appointment or Dismissal of Outside Directors on Corporate Governance and Stock Price. Journal of Knowledge Information Technology and Systems, 7(6), 47-62.

노승재. The Effects of Appointment or Dismissal of Outside Directors on Corporate Governance and Stock Price. Journal of Knowledge Information Technology and Systems. 2012; 7(6) 47-62.

노승재. The Effects of Appointment or Dismissal of Outside Directors on Corporate Governance and Stock Price. 2012; 7(6), 47-62.

노승재. "The Effects of Appointment or Dismissal of Outside Directors on Corporate Governance and Stock Price" Journal of Knowledge Information Technology and Systems 7, no.6 (2012) : 47-62.