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- Analyst following Black, B. (2001), “Does corporate governance matter? A crude test using Russian dataâ€, University of Pennsylvania Law Review, Vol. 149 No. 6, pp. 2131-50.
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Analyst following Mitton, T. (2004), “Corporate governance and dividend policy in emerging marketsâ€, Emerging Markets Review, Vol. 5 No. 4, pp. 409-26.
- ARJ 23,1 Gleason, C. and Lee, C. (2003), “Analyst forecast revisions and market price discoveryâ€, The Accounting Review, Vol. 78 No. 1, pp. 193-225.
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Bai, C., Liu, Q., Lu, J., Frank, S. and Zhang, J. (2004), “Corporate governance and market valuation in Chinaâ€, Journal of Comparative Economics, Vol. 32 No. 4, pp. 599-825.
Ball, R., Kothari, S. and Robin, A. (2000), “The effect of international institutional factors on properties of accounting earningsâ€, Journal of Accounting and Economics, Vol. 29 No. 1, pp. 1-59.
Barniv, R., Myring, M. and Thomas, W. (2005), “The association between the legal and ï¬nancial reporting environments and forecast performance of individual analystsâ€, Contemporary Accounting Research, Vol. 22 No. 4, pp. 727-58.
- Barth, M., Kasnzik, R. and McNichols, M. (2001), “Analyst coverage and intangible assetsâ€, Journal of Accounting Research, Vol. 39 No. 1, pp. 1-34.
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- Beaver, W., McAnally, M. and Stinson, C. (1997), “The information content of earnings and prices: a simultaneous equations approachâ€, Journal of Accounting and Economics, Vol. 23 No. 1, pp. 53-81.
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Bhushan, R. (1989), “Firm characteristics and analyst followingâ€, Journal of Accounting and Economics, Vol. 11 Nos 2/3, pp. 255-74.
Black, B., Jang, H. and Kim, W. (2006), “Does corporate governance predict ï¬rms’ market values? Evidence from Koreaâ€, Journal of Law, Economics, & Organization, Vol. 22 No. 2, pp. 366-413.
Bowen, R., Chen, X. and Cheng, Q. (2008), “Analyst coverage and the cost of raising equity capital: evidence from underpricing of seasoned equity offeringsâ€, Contemporary Accounting Research, Vol. 25 No. 3, pp. 657-700.
- Brown, L. and Caylor, M. (2006), “Corporate governance and ï¬rm valuationâ€, Journal of Accounting & Public Policy, Vol. 25 No. 4, pp. 409-34.
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Bushman, R., Piotroski, L. and Smith, A. (2004), “What determines corporate transparency?â€, Journal of Accounting Research, Vol. 42 No. 2, pp. 207-52.
- Bushman, R., Piotroski, L. and Smith, A. (2005), “Insider trading restrictions and analysts’ incentives to follow ï¬rmsâ€, Journal of Finance, Vol. 60 No. 1, pp. 35-66.
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- Byard, D., Li, Y. and Weintrop, J. (2006), “Corporate governance and the quality of ï¬nancial analysts’ informationâ€, Journal of Accounting & Public Policy, Vol. 25 No. 5, pp. 609-25.
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- Chang, J., Khanna, T. and Palepu, K. (2000), “Analyst activity around the worldâ€, working paper, Harvard Business School, Boston, MA.
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Chen, K., Chen, Z. and Wei, K. (2009), “Legal protection of investors, corporate governance, and the cost of equity capitalâ€, Journal of Corporate Finance, Vol. 15 No. 3, pp. 273-89.
- Chen, W., Chung, H., Lee, C. and Liao, W. (2005), “Corporate governance and equity liquidity: an analysis of S&P transparency & disclosure rankingâ€, working paper, National Chiao Tung University, Hsinchu.
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- Cheng, M. and Subramanyam, K. (2008), “Analyst following and credit ratingsâ€, Contemporary Accounting Research, Vol. 25 No. 4, pp. 1007-44.
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Choi, J., Park, S. and Yoo, S. (2007), “The value of outside directors: evidence from corporate governance reform in Koreaâ€, Journal of Financial and Quantitative Analysis, Vol. 42 No. 4, pp. 941-62.
- CLSA Emerging Markets (2001), Saints and Sinners: Who’s Got Religion?, CLSA Emerging Markets, Hong Kong.
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- CLSA Emerging Markets (2002), Make Me Holy. . .But not Yet!, CLSA Emerging Markets, Hong Kong.
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Durnev, A. and Kim, H. (2005), “To steal or not to steal: ï¬rm attributes, legal environment, and valuationâ€, Journal of Finance, Vol. 60 No. 3, pp. 1461-93.
Eng, L. and Mak, T. (2003), “Corporate governance and voluntary disclosureâ€, Journal of Accounting & Public Policy, Vol. 22 No. 4, pp. 325-45.
- Eng, L. and Teo, H. (2000), “The relation between annual report disclosures, analysts’ earnings forecasts and analyst following: evidence from Singaporeâ€, Paciï¬c Accounting Review, Vol. 11 No. 1, pp. 219-39.
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Fan, J. and Wong, T. (2002), “Corporate ownership structure and the informativeness of accounting earnings in East Asiaâ€, Journal of Accounting and Economics, Vol. 33 No. 3, pp. 401-25.
- Fulkerson, C. and Meek, G. (1998), “Analysts’ earnings forecasts and the value relevance of 20-F reconciliations from non-U.S. to U.S. GAAPâ€, Journal of International Financial Management and Accounting, Vol. 9 No. 1, pp. 1-15.
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Further reading Claessens, S. and Pan, J. (2002), “Corporate governance in Asia: a surveyâ€, International Review of Finance, Vol. 3 No. 1, pp. 71-103.
- Gompers, P., Ishii, J. and Metrick, A. (2003), “Corporate governance and equity pricesâ€, Quarterly Journal of Economics, Vol. 118 No. 1, pp. 107-15.
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Hausman, J. (1978), “Speciï¬cation tests in econometricsâ€, Econometrica, Vol. 46 No. 6, pp. 1251-71.
- Ho, S. and Wong, K. (2001), “A study of the relationship between corporate governance structures and the extent of voluntary disclosureâ€, Journal of International Accounting, Auditing and Taxation, Vol. 10 No. 2, pp. 139-57.
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- Hope, O.-K. (2003), “Analyst following and the influence of disclosure components, IPOs and ownership concentrationâ€, Asia-Paciï¬c Journal of Accounting & Economics, Vol. 10 No. 2, pp. 117-41.
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- Klein, P., Shapiro, D. and Young, J. (2005), “Corporate governance, family ownership and ï¬rm value: the Canadian evidenceâ€, Corporate Governance: An International Review, Vol. 13 No. 6, pp. 769-84.
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- Kouwenberg, R. (2006), “Does voluntary corporate governance code adoption increase ï¬rm value in emerging markets? Evidence from Thailandâ€, working paper, Mahidol University, Bangkok.
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La Porta, R., Lopez-de-Silanes, F., Shleifer, A. and Vishny, R. (1997), “Legal determinants of external ï¬nanceâ€, Journal of Finance, Vol. 5 No. 3, pp. 1131-50.
- La Porta, R., Lopez-de-Silanes, F., Shleifer, A. and Vishny, R. (1998), “Law and ï¬nanceâ€, Journal of Political Economy, Vol. 106 No. 6, pp. 1113-55.
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La Porta, R., Lopez-de-Silanes, F., Shleifer, A. and Vishny, R. (2000), “Investor protection and corporate governanceâ€, Journal of Financial Economics, Vol. 58 No. 1, pp. 3-27.
La Porta, R., Lopez-de-Silanes, F., Shleifer, A. and Vishny, R. (2002), “Investor protection and corporate valuationâ€, Journal of Finance, Vol. 57 No. 3, pp. 1147-70.
- Lang, M. and Lundholm, R. (1996), “Corporate disclosure policy and analyst behaviorâ€, The Accounting Review, Vol. 71 No. 4, pp. 467-93.
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Lang, M., Lins, K. and Miller, D. (2004), “Concentrated control, analyst following and valuation: do analysts matter most when investors are protected least?â€, Journal of Accounting Research, Vol. 42 No. 3, pp. 589-622.
McNichols, M. and O’Brien, P. (1997), “Self-selection and analyst coverageâ€, Journal of Accounting Research, Vol. 35 No. 2, pp. 167-99.
O’Brien, P. and Bhushan, R. (1990), “Analyst following and institutional ownershipâ€, Journal of Accounting Research, Vol. 28 No. 3, pp. 55-76.
Peasnell, K., Pope, P. and Young, S. (2005), “Board monitoring and earnings management: do outside directors influence abnormal accruals?â€, Journal of Business Finance & Accounting, Vol. 32 Nos 5/6, pp. 1311-46.
- Roulstone, D. (2003), “Analyst following and market liquidityâ€, Contemporary Accounting Research, Vol. 20 No. 3, pp. 552-78.
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- Shen, C. and Chih, H. (2007), “Earnings management and corporate governance in Asia’s emerging marketsâ€, Corporate Governance: An International Review, Vol. 15 No. 5, pp. 999-1021.
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- Willekens, M., Bauwhede, H., Gaeremynck, A. and Gucht, L. (2005), “The impact of internal and external governance mechanisms on the voluntary disclosure of ï¬nancial and non-ï¬nancial performanceâ€, working paper, Aston Business School, Birmingham.
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- Xu, L. and Tang, A. (2008), “Internal control material weakness, analysts’ accuracy and bias, and brokerage reputationâ€, working paper, Morgan State University, Baltimore, MD.
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