Download or read book formal versus informal finance evidence from china written by Vojislav Maksimovic and published by World Bank Publications. This book was released on 2008 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: China is often mentioned as a counterexample to the findings in the finance and growth literature since, despite the weaknesses in its banking system, it is one of the fastest growing economies in the world. The fast growth of Chinese private sector firms is taken as evidence that it is alternative financing and governance mechanisms that support China's growth. This paper takes a closer look at firm financing patterns and growth using a database of 2,400 Chinese firms. The authors find that a relatively small percentage of firms in the sample utilize formal bank finance with a much greater reliance on informal sources. However, the results suggest that despite its weaknesses, financing from the formal financial system is associated with faster firm growth, whereas fund raising from alternative channels is not. Using a selection model, the authors find no evidence that these results arise because of the selection of firms that have access to the formal financial system. Although firms report bank corruption, there is no evidence that it significantly affects the allocation of credit or the performance of firms that receive the credit. The findings suggest that the role of reputation and relationship based financing and governance mechanisms in financing the fastest growing firms in China is likely to be overestimated.
Download or read book International Corporate Governance written by Kose John and published by Emerald Group Publishing. This book was released on 2011-03-31 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents research on corporate governance from a number of countries across the world, including the United States, Spain, Malaysia, Israel and others. This title examines many important corporate governance mechanisms, such as board characteristics, ownership structure, legal protection of shareholders, and annual general meetings.
Download or read book Corporate Governance and Cash Holdings of Business Group Affiliated Firms written by 蔡京姐 and published by . This book was released on 2012 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Rise in Corporate Saving and Cash Holding in Advanced Economies Aggregate and Firm Level Trends written by Mai Chi Dao and published by International Monetary Fund. This book was released on 2018-12-07 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using cross-country national accounts and firm-level data, we document a broad-based trend in rising gross saving and net lending of non-financial corporates across major industrialized countries over the last two decades, though most pronounced in countries with persistent current account surpluses. We find that this trend holds consistently across major industries, and is concentrated among large firms, driven by rising profitability, lower financing costs, and reduced tax rates. At the same time, higher gross corporate saving have not supported a commensurate increase in fixed capital investment, but instead led to a build-up of liquid financial assets (cash). The determinants of corporate cash holding and saving are also broad-based across countries, with the growth in assets of large firms, R&D intensity, and lower effective tax rates accounting for most of the increase over the last 15 years.
Download or read book Corporate Governance written by Sabri Boubaker and published by Springer. This book was released on 2012-12-18 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current crisis has rocked the financial system worldwide and has cast doubt on the effectiveness of the existing regulatory regime. Thousands of firms have gone bankrupt and many financial institutions were bailed out by governments. The effects of the crisis have shaken emerging and developing markets alike and have not spared neither small nor large businesses. Many scholars and practitioners attribute the roots of the crisis to failures and weaknesses in the way corporate governance has been practiced since the mid-1990s. Lax board oversight of top management, short-termism and self-interested behavior have been fingered as the culprits behind recent financial turmoil. This book highlights the recent developments and new trends in corporate governance. The eighteen chapters, written by leading academics and experts, can assist corporate executives, governance bodies, investors, market regulators, and policymakers in having a global picture of major corporate governance issues. This book highlights the recent developments and new trends in corporate governance. The eighteen chapters, written by leading academics and experts, can assist corporate executives, governance bodies, investors, market regulators, and policymakers in having a global picture of major corporate governance issues.
Download or read book Business Groups in the West written by Asli M. Colpan and published by Oxford University Press. This book was released on 2018 with total page 586 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume aims to explore the evolution of large enterprises in today's developed economies in the West. It focuses on the economic institution of the business group and understanding the factors behind its rise, growth, resilience, and/or fall; its behavioural and organizational characteristics; and its contributions to economic development.
Download or read book A History of Corporate Governance around the World written by Randall K. Morck and published by University of Chicago Press. This book was released on 2007-11-01 with total page 700 pages. Available in PDF, EPUB and Kindle. Book excerpt: For many Americans, capitalism is a dynamic engine of prosperity that rewards the bold, the daring, and the hardworking. But to many outside the United States, capitalism seems like an initiative that serves only to concentrate power and wealth in the hands of a few hereditary oligarchies. As A History of Corporate Governance around the World shows, neither conception is wrong. In this volume, some of the brightest minds in the field of economics present new empirical research that suggests that each side of the debate has something to offer the other. Free enterprise and well-developed financial systems are proven to produce growth in those countries that have them. But research also suggests that in some other capitalist countries, arrangements truly do concentrate corporate ownership in the hands of a few wealthy families. A History of Corporate Governance around the World provides historical studies of the patterns of corporate governance in several countries-including the large industrial economies of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States; larger developing economies like China and India; and alternative models like those of the Netherlands and Sweden.
Download or read book Investor Protection and Corporate Governance written by Alberto Chong and published by World Bank Publications. This book was released on 2007-06-26 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Investor Protection and Corporate Governance' analyzes the impact of corporate governance on firm performance and valuation. Using unique datasets gathered at the firm-level the first such data in the region and results from a homogeneous corporate governance questionnaire, the book examines corporate governance characteristics, ownership structures, dividend policies, and performance measures. The book's analysis reveals the very high levels of ownership and voting rights concentrations and monolithic governance structures in the largest samples of Latin American companies up to now, and new data emphasize the importance of specific characteristics of the investor protection regimes in several Latin American countries. By and large, those firms with better governance measures across several dimensions are granted higher valuations and thus lower cost of capital. This title will be useful to researchers, policy makers, government officials, and other professionals involved in corporate governance, economic policy, and business finance, law, and management.
Download or read book Governance and Regulations written by Pierpaolo Marano and published by Emerald Group Publishing. This book was released on 2018-06-29 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volume 99 is a collection of theoretical and empirical studies in governance and regulation, with application to both macro and microeconomic issues.
Download or read book Corporate Governance Around the World written by Ahmed Naciri and published by Routledge. This book was released on 2008-02-14 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last Asian financial crisis, coupled with the western series of corporate scandals, has caused investors and citizens to doubt mangers ability to guarantee credible financial information about organizations. Consequently, legislators all over the world have come to realise the necessity of legislating in the area of corporate governance.
Download or read book Corporate Governance Strengthening Latin American Corporate Governance The Role of Institutional Investors written by OECD and published by OECD Publishing. This book was released on 2011-07-01 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report reflects long-term, in-depth discussion and debate by participants in the Latin American Roundtable on Corporate Governance.
Download or read book Corporate Governance and Its Implications on Accounting and Finance written by Alqatan, Ahmad and published by IGI Global. This book was released on 2020-09-25 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: After the global financial crisis, the topic of corporate governance has been gaining momentum in accounting and finance literature since it may influence firm and bank management in many countries. Corporate Governance and Its Implications on Accounting and Finance provides emerging research exploring the implications of a good corporate governance system after global financial crises. Corporate governance mechanisms may include board and audit committee characteristics, ownership structure, and internal and external auditing. This book is devoted to all topics dealing with corporate governance including corporate governance characteristics, board diversity, CSR, big data governance, bitcoin governance, IT governance, and governance disclosure, and is ideally designed for executives, BODs, financial analysts, government officials, researchers, policymakers, academicians, and students.
Download or read book Global Business Strategies in Crisis written by Ümit Hacioğlu and published by Springer. This book was released on 2016-12-07 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the world is currently in the midst of financial and economic crises, this collection of expert contributions focuses on strategy formation and implementation at various organizational levels to address the challenges ahead. The latest economic turmoil and its ongoing impact on business performance are compelling top managers to develop effective business strategies and redefine the boundaries of their operational and strategic activities. On one hand, tremendous challenges in the competitive business environment have become a source of global threats for many small entrepreneurs. On the other, investors faced with today’s volatile economic conditions demand more gains on their capital investments to counter-balance the growing risk of global threats. This book explores the question as to whether it is possible to efficiently and effectively address these threats and obstacles. Are managers capable of planning and implementing strategic actions? What should the major managerial strategy be in order to overcome fluctuations in a market-oriented society? The strategies and practices recommended here are aimed to design continuous development competencies and contribute to the stability, recovery and sustainability of global business operations under volatile economic conditions. This refreshingly novel book seeks to establish managerial strategies and practices for effectively responding to challenges in the competitive business environment, as global volatility and fluctuations continue to worsen.
Download or read book Corporate Governance Value Creation and Growth The Bridge between Finance and Enterprise written by OECD and published by OECD Publishing. This book was released on 2012-08-20 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication examines the role of corporate governance arrangements in providing right incentives to contribute the value creation process within the private enterprises and the implications of the differences in ownership structures on corporate governance practices and frameworks.
Download or read book A Country is Not a Company written by Paul R. Krugman and published by Harvard Business Press. This book was released on 2009 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nobel-Prize-winning economist Paul Krugman argues that business leaders need to understand the differences between economic policy on the national and international scale and business strategy on the organizational scale. Economists deal with the closed system of a national economy, whereas executives live in the open-system world of business. Moreover, economists know that an economy must be run on the basis of general principles, but businesspeople are forever in search of the particular brilliant strategy. Krugman's article serves to elucidate the world of economics for businesspeople who are so close to it and yet are continually frustrated by what they see. Since 1922, Harvard Business Review has been a leading source of breakthrough management ideas-many of which still speak to and influence us today. The Harvard Business Review Classics series now offers readers the opportunity to make these seminal pieces a part of your permanent management library. Each highly readable volume contains a groundbreaking idea that continues to shape best practices and inspire countless managers around the world-and will have a direct impact on you today and for years to come.
Download or read book Comparative Research on Earnings Management Corporate Governance and Economic Value written by Elisabete S. Vieira and published by . This book was released on 2021 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book discusses the accounting policies firms use in different opportunistic circumstances in order to manage earnings, and to understand the corporate governance practices in different countries, and its relationship to firms' performance, and other dimensions of companies"--
Download or read book Comparative Corporate Governance written by Afra Afsharipour and published by Edward Elgar Publishing. This book was released on 2021-06-25 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research handbook provides a state-of-the-art perspective on how corporate governance differs between countries around the world. It covers highly topical issues including corporate purpose, corporate social responsibility and shareholder activism.
