اثر الحوكمة في عوائد اسهم الشركات المساهمة العامة المدرجة في سوق دمشق للاوراق المالية

الموضوعات

اقتصاد

الملخص

روابط وملفات

التعريف والنوع

رقم الوثيقة

08022b33-e41b-4259-9631-98c29e6ffc20

رقم العقد

0

نوع الوسائط

Crawler

نوع المحتوى

الرسائل العلمية

صيغة المصدر

رسائل ماجيستير

نوع الملف

pdf text

أسماء الملفات

1962437_1.pdf

بيانات النشر

ترجمة العنوان

The Impact of Corporate Governance on Stock Returns of Firms Listed at Damascus Securities Exchange

ألقاب المؤلفين

[{"name_ar":"زكاء ماردنلي","title_ar":"اعداد","title_en":"Preparation"},{"name_ar":"سليمان موصلي","title_ar":"اشراف","title_en":"Supervision"}]

اللغة

Arabic

المصدر والدورية

اسم المصدر

اثر الحوكمة في عوائد اسهم الشركات المساهمة العامة المدرجة في سوق دمشق للاوراق المالية

المحتوى والصفحات

عدد الصفحات

173

ترجمة الملخص

The study aims to find out the extent commitment of the companies to implement good governance also to know the impact of rules of corporate governance on the stock returns of the companies listed at the Damascus Securities Exchange, by relying on the reports issued by the Syrian Securities and Exchange Commission.To achieve the objectives of the study a general indicator of governance was formed. this index Consist of four sub-indicators;( board of directors, audit, disclosure and ownership structure). A corporate governance index is developed following approach CGQ by Risk Metrics Group, which provides risk management services, corporate governance and financial services, and a global assessment of 8,000 companies outside the United States. following Gompers et al (2003), two portfolios were formed. The first portfolio includes the good governance companies and the other portfolio, which includes the weak governance companies to find out if there are statistically significant differences between average monthly returns of portfolios of good and weak governance.The researcher examined the impact of the general governance index and the sub-indicators (Board of Directors -Audit -Disclosure -Structure of Ownership) on the stock returns of the Damascus Securities Exchange following the Fama and Macbeth (1973) Method using monthly Linear regression equations. The study was conducted during the period from 2011 to 2015. The study concluded that the disclosure index ranked first in terms of the implementation of its items among the other governance indicators. The index of the Board of Directors ranked second and the auditing index ranked third. The last rank was the ownership structure index. The study pointed out that 79% of the companies listed at Damascus Securities Exchange apply the rules of governance.Our results refer that The returns of the weak governance portfolio of the Board index and structure are higher than those of the good governance portfolio.The results of the linear regression analysis confirmed that the board index and the structure of the ownership index have a significant negative impact on returns of the companies.‌‌The aggregate index of corporate governance has no significant impact on stock returns.

إشراف وإعداد

الإشراف

سليمان موصلي

الإعداد

زكاء ماردنلي

الاقتباسات الببليوغرافية