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    Risk Committees and Implied Cost of Equity Capital

    Access Status
    Fulltext not available
    Authors
    Al-Hadi, Al-Hadi Ahmed
    Hussain, S.
    Al-Yahyaee, K.
    Al-Jabri, H.
    Date
    2017
    Type
    Journal Article
    
    Metadata
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    Citation
    Al-Hadi, A.A. and Hussain, S. and Al-Yahyaee, K. and Al-Jabri, H. 2017. Risk Committees and Implied Cost of Equity Capital. International Review of Finance.
    Source Title
    International Review of Finance
    DOI
    10.1111/irfi.12147
    ISSN
    1369-412X
    School
    School of Accounting
    URI
    http://hdl.handle.net/20.500.11937/58033
    Collection
    • Curtin Research Publications
    Abstract

    © 2017 International Review of Finance Ltd. 2017. We investigate the association between the existence of risk committee and implied cost of equity capital in a unique institutional setting where the formation of the board risk committee as part of the risk governance mechanism is not mandatory in the Gulf Cooperation Council (GCC) financial institutions. Using data from the six GCC countries, we find that implied cost of equity capital is negatively associated with the existence of board risk committee. These findings indicate that GCC financial firms with better risk governance practices at board level have lower implied cost of equity capital. We contribute to the extant literature on-board risk governance in emerging market context.

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