Corporate governance and cash-box mining firm lifecycles

Chapple, Larelle June, Clout, Victoria, & Treepongkaruna, Sirimon (2015) Corporate governance and cash-box mining firm lifecycles. In Accounting and Finance Association of Australia and New Zealand (AFAANZ) Conference, 5-8 July 2015, Hobart, Tas. (Unpublished)

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Abstract

We examine the association between corporate governance and return volatility at life-cycle stages of mining cash-box firms. We are motivated to examine the information environment of mining firms, in particular cash-box explorers that are searching for a resource, as these firms’ information environment is often characterised by high information asymmetry. The information asymmetry might be mitigated through changes in corporate governance that accompanies a firm life-cycle milestone. Mining firms typically move through distinct life-cycle milestones, starting with the cash-box stage, and are often much weaker in the corporate governance mechanisms during the early explorer phase compared to other industries. In order to attract investment in the firm, the corporate governance mechanisms may be adapted to signal quality of the firm and in turn reduce information asymmetries. We examine resources firms in the period 2003 to 2013 for the association between changes in corporate governance mechanisms with return volatility

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ID Code: 97863
Item Type: Conference Paper
Refereed: Yes
Additional URLs:
Keywords: Corporate governance, information asymmetry, cash-box lifecycle
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
Copyright Owner: Copyright 2015 The Author(s)
Deposited On: 02 Aug 2016 23:10
Last Modified: 07 Aug 2016 05:37

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