Who will fare better in a political crisis?

Hsu Huei Huang, Min Lee Chan, Ann Shawing Yang

研究成果: Article同行評審

1 引文 斯高帕斯(Scopus)


Because a political crisis may negatively affect stock returns, it is important for investors to know which firms will be affected less adversely by such a crisis. This study shows that firms that are controlled by families or have high growth opportunities will experience larger declines in their stock prices and a longer period of decline. Firms with outside directors, higher ratios of outside directors, or higher institutional shareholdings will experience smaller declines in their stock prices and a shorter period of decline. In other words, firms with better governance mechanisms and those considered value stocks will be less adversely affected by a political crisis; thus, their investors will suffer fewer negative effects.

頁(從 - 到)22-34
期刊Emerging Markets Finance and Trade
出版狀態Published - 2014 5月 1

All Science Journal Classification (ASJC) codes

  • 金融
  • 經濟學、計量經濟學和金融學 (全部)


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