Hodges, Charles W.; Lin, Bingxuan; Lin, Chen-Miao - In: Applied Economics Letters 21 (2014) 13, pp. 906-913
We investigate how market competition and corporate governance affect a firm's cost of equity and debt. We find firms with better corporate governance have a lower cost of equity and cost of debt. However, we find that the negative relation between cost of capital and governance primarily holds...
