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    Understanding the determinants of risk metrics/ISS ratings of the quality of UK companies’ corporate governance practice

    Khaled, H. and Al-Najjar, Basil (2012) Understanding the determinants of risk metrics/ISS ratings of the quality of UK companies’ corporate governance practice. Canadian Journal of Administrative Sciences 29 (4), pp. 366-377. ISSN 0825-0383.

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    Abstract

    We examine the determinants of RiskMetrics/ISS Ratings of the quality of UK companies' corporate governance practice and investigate whether corporate governance mechanisms and firm specific characteristics affect these ratings. We also investigate the association between firms' financial distress and these ratings. Using data for nonfinancial Financial Times Stock Exchange (FTSE) 250 firms over the 2003 to 2009 period, we find that board independence, managerial ownership, institutional ownership, firm size, and profitability are associated with firms' corporate governance ratings. In addition, we find that more independent directors on the board, more institutional ownership, and larger size lead to a high level of board-related ratings. Finally, we find no association between corporate governance ratings and financial distress.

    Metadata

    Item Type: Article
    Keyword(s) / Subject(s): corporate governance ratings, corporate governance mechanisms, firm-specific characteristics, financial distress, UK, évaluations de la gouvernance d'entreprise, mécanismes de gouvernance d'entreprise, caractéristiques liées aux firmes, détresse financière, Grande-Bretagne
    School: Birkbeck Schools and Departments > School of Business, Economics & Informatics > Management
    Depositing User: Basil Al-Najjar
    Date Deposited: 23 Jan 2013 16:23
    Last Modified: 13 Jun 2013 09:53
    URI: http://eprints.bbk.ac.uk/id/eprint/5385

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