Download or read book Essays on Corporate Governance in Emerging Markets written by Sudarat Bo Ananchotikul and published by . This book was released on 2007 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book State on Board written by Nga Pham and published by Springer Nature. This book was released on 2021-09-01 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research in this book focuses on the strategic behaviour of the State as a shareholder in businesses, and the implications it has for the other shareholder(s) and business performance. It investigates the institutional characteristics of State-linked and State-owned firms (SIEs & SOEs), in emerging markets using Vietnam as a case study with comparative analysis on China and selected ASEAN countries. In doing so, the book adopts an evidence-based approach to explain the State’s role as a shareholder in the different aspects of corporate governance, including CEO appointment, board structure and impact of State ownership on business strategy and performance. It highlights the influence of the State as a shareholder by investigating institutional factors consistent with “path dependence” theory, which postulates that the initial and underlying structure of an economy influences its performance. In addition, the book presents empirical evidence of the dynamics of corporate governance arising from interactions between the State and other shareholders, which has not yet been addressed in the literature, and is distinctive in providing new insights from both qualitative and empirical research on how to successfully navigate the emerging market business environments from the perspective of the State as an “owner-participant”. Explaining the theoretical constructs in corporate governance in State-invested firms, empirical research methodologies, and results to draw and validate inferences, the book is comprehensive and provides a practical guide for practitioners as well as a reference for academics, undergraduate and postgraduate students. The new theoretical models proposed integrate traditional political-economic and agency theories, which also underpin tertiary business courses and academic research.

Download or read book Corporate Governance in Developing and Emerging Markets written by Franklin N. Ngwu and published by Routledge. This book was released on 2016-12-08 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: Throughout the world, the Anglo-American model of corporate governance tends to prevail – but no two countries are identical. Governance outcomes in developing and emerging economies often deviate from what theory predicts, due to a wide range of factors. Using insights from New Institutional Economics, Corporate Governance in Developing and Emerging Markets aims to explain the different issues and cultural and legal factors at play, and put forward an alternative governance framework for these economies. Structured in three parts, this text investigates different models of corporate governance; it explores the realities of corporate governance in ten nations, including the ‘BRICS’ (Brazil, Russia, India, China and South Africa) and ‘MINT’ (Mexico, Indonesia, Nigeria and Turkey) countries; and then considers corporate governance reform. This interdisciplinary text will be a valuable tool for students of corporate governance across Business, Economics and Law; and an equally useful resource for anyone working in or carrying out research in this area.

Download or read book Corporate governance in emerging markets written by and published by . This book was released on with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Corporate Governance in Emerging Markets written by Sabri Boubaker and published by Springer Science & Business Media. This book was released on 2014-04-01 with total page 625 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book fills the gap between theories and practices of corporate governance in emerging markets by providing the reader with an in-depth understanding of governance mechanisms, practices and cases in these markets. It is an invaluable resource not only for academic researchers and graduate students in law, economics, management and finance but also for people practicing governance such as lawmakers, policymakers and international organizations promoting best governance practices in emerging countries. Investors can benefit from this book to better understand of these markets and to make judicious investment decisions.

Download or read book Corporate Governance in Less Developed and Emerging Economies written by Matthew Tsamenyi and published by Emerald Group Publishing. This book was released on 2008-12-01 with total page 568 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance reform has become an important global policy agenda driven by events such as the 1997 Asian financial crisis, corporate scandals (such as Enron and WorldCom) and the globalisation of capital markets. This book advances debate on corporate governance, accountability and transparency in less developed and emerging economies.

Download or read book Essays on Corporate Ownership and Governance in an Emerging Market written by Sehyun Yoo and published by . This book was released on 2005 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Comparative Corporate Governance in Emerging Markets written by Ruth V. Aguilera and published by . This book was released on 2018 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This review essay seeks to provide an overview of the state of the art of corporate governance (CG) in emerging markets (EMs). We focus mostly on the BRIC countries (Brazil, Russia, India and China) and adopt a systematic cross-national comparative focus. The chapter has four main sections. We begin by highlighting why it is important to better understand CG in EMs and to identify some of the key challenges these countries face as they seek to enhance their CG. Second, our review of managerial research conducted after the year 2000 on CG in emerging markets falls into four categories: ownership, boards of directors, top management teams, and CG practices and reform. We discuss the main research questions and findings from this collective body of work. It is noteworthy how “siloed” this research has been in terms of drawing few cross-national comparisons. In our third section, we seek to offer an overview of the main CG features of each of these BRIC countries relative to the others, taking on the OECD Guidelines of CG as our benchmark framework. To do so, we first address core governance areas related to the overall model of CG, ownership types and ownership rights, information disclosure and reporting, and stakeholder management and corporate social responsibility. Our concluding section highlights the main common themes for CG in emerging markets and suggests fruitful areas of future research.

Download or read book Empirical Essays on Corporate Governance and Corporate Decisions in Emerging Economies written by Mohamed Isa Elghuweel and published by . This book was released on 2015 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Corporate Governance written by Omar Al Farooque and published by LAP Lambert Academic Publishing. This book was released on 2010 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emerging economies have been grossly underrepresented in the corporate governance research. This book contributes in understanding the efficacy of corporate governance instruments influencing firm performance in emerging markets. Given the huge institutional differences between systems of governance practiced in emerging and developed economies, it is interesting to know whether existing differences in institutional and regulatory practices also translate into differences in the relationship between ownership and performance. Addressing ownership-performance relationship, this book has provided new insights for distinct governance model in emerging markets where replication of Western model may not be realistic without reflecting home-grown unique features and local contexts of the country. Instead, there is a need for a robust governance structure that is a balance between socio-economic environment of the country and the good features of Western model to meet the challenge of strengthening governance mechanisms in emerging markets. This book is of particular interest of the regulators, policy makers and stakeholders across the countries of the world.

Download or read book Is Corporate Governance Ineffective in Emerging Markets written by Michael S. Gibson and published by . This book was released on 2002 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: I test whether corporate governance is ineffective in emerging markets by estimating the link between CEO turnover and firm performance for over 1,200 firms in eight emerging markets. While previous papers on corporate governance in emerging markets have studied corporate governance mechanisms, such as concentrated ownership, I study a corporate governance outcome: are poorly performing managers replaced? Others have answered this question in the affirmative for the United States and other developed countries. This paper is the first to address this question for emerging markets. I find two main results. First, CEOs of emerging market firms are more likely to lose their jobs when their firm's performance is poor, suggesting that corporate governance is not ineffective in emerging markets. The magnitude of the relationship is surprisingly similar to what Kaplan (1994a) found for the United States. Second, for the subset of firms with a large domestic shareholder, there is no link between CEO turnover and firm performance. For this subset of emerging market firms, corporate governance appears to be ineffective.

Download or read book Corporate Governance and Capital Flows in a Global Economy written by Peter K. Cornelius and published by Oxford University Press. This book was released on 2003 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume is a timely and insightful exploration into the issues of corporate governance and the impact of corporate governance practices on investments in developing countries. Sponsored by the World Economic Forum, INSEAD, and Wharton, this book collects original essays from senior researchers at the worlds top academic institutions as well as from key policymakers and business leaders, It analyzes global aspects of governance in relation to such issues as corporate performance, privatization, venture capitalism, and workers. With global financial markets having become more integrated, the book pays particular attention to the role of corporate governance in emerging-market economies and international capital flows. Rich in facts and ideas, Corporate Governance and Capital Flows in a Global Economy is a must read for anyone interested in financial crises international risk management, and global competitiveness.

Download or read book Corporate Governance and Ownership Structure in Emerging Markets written by Diego C. Cueto and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: My dissertation explores the leading role of ownership structures in corporate governance for publicly traded firms in emerging markets. I analyze the relationships between ownership structures, corporate governance mechanisms, firm value and market liquidity for a sample of Latin American firms. The predominant highly concentrated ownership within a context of weak shareholder protection provides a rich environment to explore corporate governance practices in a regional setting. The period of analysis, 2000-2006, is characterized by economic growth sustained by the expansion of foreign direct investment in a post-privatization era. The region as a whole, rather than just individual markets, became an attractive investment destination. In addition the development of a private pension system initiated in Chile and subsequently expanded to more than 25 countries (the AFP system) reinvigorated the capital markets which have become more attractive as a means of diversification for global portfolios. Moreover, understanding the implications of concentrated ownership structures is fundamental for participants in a yet incipient mergers and acquisitions market. My dissertation consists of three related essays which collectively cohere to represent my research approach and understanding of the topic and they all benefit from the exploitation of a unique ownership database. This work serves to advance the finance literature in several dimensions: a) the manuscript examines at markets which have hitherto been ignored or at best simply characterized as having very weak governance structures; b) it addresses endogeneity problems from the initial design of this research project through the data collection process; c) furthermore, I extend the literature on the interactions between governance mechanisms and firm value; and d) it develops new corporate governance measures, including novel "effective" firm ownership variables for these markets. Dominant shareholders may have both the capability and the incentive to expropriate minority shareholders. Specifically, I examine performance effects that may be attributable to discrepancies between voting rights and cash-flow rights. I examine the extent to which dominant shareholders can divert resources for their own consumption, in turn reducing overall shareholder value. Given the large potential for private consumption, by the dominant shareholders, I also explore the motivations for outside investors to participate in the financing of the firms' activities.

Download or read book Global Corporate Governance written by Donald H. Chew and published by Columbia University Press. This book was released on 2009-08-24 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: Effective corporate governance, or the set of controls and incentives that drive top management, originates both outside and inside the firm and assures investors who hope to commit their capital. Essential when buying stocks in one's own country, effective corporate governance is even more important abroad, where information can be less reliable and investor influence (or protection) more limited. In this collection of articles from the Journal of Applied Corporate Finance, more than thirty leading scholars and practitioners discuss the possibilities and limitations of global corporate finance and governance systems, whether in Europe and North America or in the emerging markets of Israel, India, Korea, and South Africa. Essays discuss the political roots of American corporate finance; the structural and financial variations between international corporations; control premiums and the effectiveness of corporate governance systems; debt, folklore, and cross-country differences in financial structures; the driving forces behind the East Asian Financial Crisis of 1997; corporate ownership and control in India, Germany, France, and the United Kingdom; financial and economic lessons of Italy's privatization program; changes in Korean corporate governance; sovereign wealth funds; and the new organization of Canadian business trusts. A special roundtable discussion addresses shareholder activism in the U.K.

Download or read book Handbook on Emerging Issues in Corporate Governance written by Alireza Tourani-Rad and published by World Scientific. This book was released on 2011 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book highlights emerging topics in key areas of corporate governance with special emphasis on traditionally unexplored issues. It also aims to stimulate thinking and debate on vital aspects of practice and approaches to corporate governance. The topics covered in this book deal with timely subjects, written by eminent academics and renowned professionals with outstanding expertise in their respective fields, who bring to fore the latest theories and provide an up-to-date overview of the extant literature on each topic. More importantly, they draw readers attention to implications for future research and developments. The book not only contributes to the academic literature but also improves the decision making of regulators and investors.

Download or read book Two Essays on Board of Directors and Corporate Governance written by Jairo Andrés Villamil Díaz and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation, in the field of knowledge of finance, is about boards of directors in Latin America. Two great features of boards are analyzed, diversity and independence. This work is an empirical contribution to the corporate governance literature. Moreover, this is a contribution on the research on emerging markets, where there are scare studies on board of directors. These essays consider agency theory as a base of the discussion on corporate governance, though the conception of board and directors are not exclusively taken as a monitoring mechanism. Both studies share the same database of firms, boards, and directors. This hand-collected database consists of 450 firms from 2001 to 2012 in 6 countries (Argentina, Brazil, Chile Colombia, Mexico and Peru). We constructed it with information of each board member, financial information of the firm and control variables in firm-level and country-level.

Download or read book Domination of Family Owned Corporations and Problems of Corporate Governance in Emerging Markets written by Dr. Malik Muhammad Hafeez and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Good corporate governance contributes to sustainable economic development by enhancing the performance of the companies and increasing their access to outside capital. The experiences of the developed countries reveal that good corporate governance can reduce risk, stimulate performance, improve access to capital markets, enhance the marketability of goods and services, improve leadership, increase the value of the corporations, enable the corporations to acquire external finances easily at a lower cost. The dispersed ownership and separation between ownership and control resulted corporate governance problems including agency cost in developed and emerging economies. The good corporate governance practices and concentration of share ownership in the baskets of a group of institutions gave them monitoring responsibility to the corporate issues in the western financial markets. However, the corporate governance problems including managerial opportunism still exist in developing economies, where family owned enterprises control their stock markets. The developing and emerging economies are constantly confronted with issues such as the lack of property rights, the abuse of minority shareholders and contract violations. For a strong impact of corporate governance measures on the economy, a set of democratic norms, market institutions and effective legal system should be set up. Over the past decade reforms in corporate governance driven by events such as the 1997 Asian financial crisis, major corporate scandals (such as Enron and WorldCom) and the globalization of capital markets have become an important global policy agenda. Economic development requires a modern, transparent corporate governance infrastructure based on efficient capital markets. This paper evaluates the possible monitoring role of company's creditors and auditors, arguing that a well-developed corporate governance structure, including accounting infrastructure and creditors vigilance, would promote long-term corporate stability and economic prosperity.