Li, Wei-Xuan; Chen, Clara Chia-Sheng; French, Joseph J. - In: Emerging Markets Review 13 (2012) 4, pp. 465-477
This paper examines the hypotheses that liquidity improves corporate governance, and better governance enhances valuation of Russian firms. We find a positive causal relationship between measures of liquidity and corporate governance. Additionally, we document the strong positive impact of...