Rubach, Michael; Picou, Armand - In: Corporate Governance: The international journal of … 5 (2005) 5, pp. 30-38
the enactment of corporate governance guidelines. Agency and management theories suggest the enactment of guidelines … significant. Searching for first‐ or late‐mover advantages was also unsuccessful. However, the increased enactment of guidelines … value transferred to those few who act on the signal. Second, the value of the guidelines may be unclear to investors. In …