Victoria University

Effects of Corporate Governance Guidelines on Investors: An Experimental Examination of Bangladeshi Investors’ Decisions

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dc.contributor.advisor van Zijl, Tony
dc.contributor.advisor Eggleton, Ian
dc.contributor.advisor Rose, Jake Tariquzzaman, ATM 2017-05-15T01:32:30Z 2017-05-15T01:32:30Z 2017 2017
dc.description.abstract The main purpose of the study is to examine whether investors assign importance to corporate governance in making investment decisions. The study involves a 2x2x2 between-participant experiment on real investors that examines the effects of corporate governance structure, financial condition and insider trading on individual investor decisions. The findings of this study extend the literature on corporate board practices and investor perceptions by providing evidence from this emerging economy that strong corporate governance has a positive impact on investor decisions. The study also confirms the findings of prior literature that financial condition of a company positively influences investor decisions. Hence, the results provide insights into the effects of strengthening corporate governance guidelines and of variation in financial condition on investor decisions. The study provides evidence that the common occurrence of illegal insider trading in the emerging market of Bangladesh does not appear to impact on investor decision making, unlike in developed countries. The results of this study also contribute to understanding of how the quality of corporate governance impacts on decision making. It appears that governance directly impacts the perceived reliability of financial reports and trust in the board and management and that these factors fully mediate the impact on investor decision making. The theoretical model and instrument developed for this study will be useful for further studies to explore the impact of other corporate governance factors on investor decisions. Furthermore, the theoretical model and instrument will also be useful for further studies in other developed and developing countries, particularly where insider trading is regarded by investors as being a concern and to investigate the impact of other corporate governance factors on investors and financial analysts. en_NZ
dc.language.iso en_NZ
dc.publisher Victoria University of Wellington en_NZ
dc.subject Corporate Governance en_NZ
dc.subject Board of Directors en_NZ
dc.subject Insider Trading en_NZ
dc.subject Financial Reports en_NZ
dc.subject Reliability en_NZ
dc.subject Trust en_NZ
dc.subject Investment Decision en_NZ
dc.title Effects of Corporate Governance Guidelines on Investors: An Experimental Examination of Bangladeshi Investors’ Decisions en_NZ
dc.type text en_NZ
vuwschema.contributor.unit School of Accounting and Commercial Law en_NZ
vuwschema.type.vuw Awarded Doctoral Thesis en_NZ Accounting en_NZ Victoria University of Wellington en_NZ Doctoral en_NZ Doctor of Philosophy en_NZ
dc.rights.license Creative Commons GNU GPL en_NZ
dc.rights.license Allow modifications en_NZ
dc.rights.license Allow commercial use en_NZ 2017-05-05T04:27:29Z
vuwschema.subject.anzsrcfor 150303 Corporate Governance and Stakeholder Engagement en_NZ
vuwschema.subject.anzsrcfor 150103 Financial Accounting en_NZ
vuwschema.subject.anzsrcseo 970115 Expanding Knowledge in Commerce, Management, Tourism and Services en_NZ
vuwschema.subject.anzsrctoa 1 PURE BASIC RESEARCH en_NZ

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