Indeed, in our study, Cohen, Wang, and I show that the association between governance and returns documented for the 1990’s subsequently disappeared. No such association existed during the 2000’s or any sub-period within this decade.
In effetti, dal nostro studio emerge che l’associazione tra governance e rendimenti documentata per gli anni 90 scompare negli anni a venire, ossia per tutta la prima decade del 2000.