The Repatriation of Foreign Earnings and Firm Value: The Influence of Corporate Governance Ranking Mechanisms and Institutional Investors

被引：0

作者：

Chen, Chao-Jung ^{[1
]}

Chu, Chuan-Pin ^{[1
]}

机构：

[1] Natl Pingtung Univ, Dept Accounting, Neipu, Taiwan

来源：

JOURNAL OF ACCOUNTING REVIEW | 2022年 / 75卷

关键词：

The repatriation of foreign earnings; Corporate governance ranking mechanisms; Active institutional investors; Firm value; AGENTS WATCHING AGENTS; MARKET VALUATION; DIVIDEND POLICY; TAX-AVOIDANCE; BOARD SIZE; OWNERSHIP; SHAREHOLDERS; COSTS; COMPENSATION; DETERMINANTS;

D O I：

10.6552/JOAR.202207_(75).0003

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study investigates the effects of the repatriation of foreign earnings on firm valuation, and further explores whether corporate governance ranking mechanisms and institutional investors (active/passive institutional investors) affect the relationship between the repatriation of foreign earnings and firm values. Using a sample of listed companies of the Taiwan Stock Exchange and Taipei Exchange from 2014 to 2018, this study obtains an empirical result that shows a positive relationship between the repatriation of foreign earnings and firm values. Moreover, the effect of foreign earnings repatriated on firm values appears to be more pronounced in firms with high corporate governance ranking results and in firms with high levels of active institutional ownership

引用

页码：81 / 135

页数：55

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