The influence of corporate governance characteristics on changes in risk following the global financial crisis evidence from companies listed in the portuguese stock market

Apesar da crescente regulação da atividade empresarial e do estabelecimento de normas e recomendações relativamente ao governo das sociedades verificados desde o início da década passada, as empresas de grande parte dos sectores de atividade económica foram seriamente afetadas durante a crise financeira global. Este estudo permite concluir que houve aumentos significativos no risco total e idiossincrático das empresas não financeiras cotadas na Euronext Lisboa após a falência do banco Lehman Bothers, a 15 de Setembro de 2008. Estes resultados são coerentes com o aumento da incerteza dos investidores verificado durante o período de crise, resultante do colapso de alguns dos maiores bancos do último século, que se traduziu numa falta de confiança generalizada nas instituições financeiras que resultou em maiores dificuldades na obtenção de créditos bancários e num aumentos dos custos de capital, durante este período. Os resultados sugerem que as alterações verificadas nas medidas do risco variaram de acordo com as características de governação e características específicas das empresas, quer num horizonte temporal mais curto, quer num horizonte temporal mais alargado. O mercado de capitais premiou as empresas com um número relativamente maior de administradores não-executivos e com administradores que exercem (em média) cargos de gestão num maior número de empresas ou instituições. Por outro lado, o mercado de capitais penalizou as empresas com um número relativamente maior de administradores independentes, maior concentração de capital, maiores oportunidades de crescimento, maior alavancagem financeira e maior liquidez corrente.

Using linked data to evaluate medical and financial outcomes of motor vehicle crashes in Connecticut.

Federal Highway Administration, Washington, D.C.

Corporate author entries used by the Technical Information Service in cataloging reports.

"TID-5059."

Fiscal data for municipalities of New York State. A summary of the financial operations of local government based on reports filed with the State Comptroller for the fiscal year ending 1953.

Mode of access: Internet.

First and second interim reports of the Gold delegation of the Financial committee of the League of nations ...

Without annexes of 1st report.

Financial performance of Illinois hospitals using medicare cost reports : 1986 to 1989 /

"May 1992."

Rail system investment analysis : financial analysis of investment projects from the individual corporate perspective /

Mode of access: Internet.

Financial disclosure reports of members of the U.S. House of Representatives of the ... Congress from ... submitted to the Clerk of the House pursuant to 2 U.S.C. [section] 703(a).

Title varies slightly.

Minutes of the Committee of Council on Education Correspondence, Financial Statements, etc., and Reports by Her Majesty's Inspectors of Schools

Mode of access: Internet.

Corporate social reporting and stakeholder accountability:the missing link

Recent years have witnessed a significant degree of administrative reform, in terms of the increasing number of major companies proclaiming their social responsibility credentials, and backing up their claims by producing substantial environmental, social and sustainability reports. The paper critically evaluates the degree of institutional reform, designed to empower stakeholders, and thereby enhance corporate accountability, accompanying these voluntary initiatives, together with that potentially ensuing from proposed regulations, later rescinded, for mandatory publication of an Operating and Financial Review by UK quoted companies. It is concluded that both forms of disclosure offer little in the way of opportunity for facilitating action on the part of organizational stakeholders, and cannot therefore be viewed as exercises in accountability. © 2007 Elsevier Ltd. All rights reserved.