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Author : Sudarat Bo Ananchotikul
Publisher :
ISBN 13 :
Total Pages : 378 pages
Book Rating : 4.:/5 (34 download)
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:
Author : Nga Pham
Publisher : Springer Nature
ISBN 13 : 9811635250
Total Pages : 270 pages
Book Rating : 4.8/5 (116 download)
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.
Author : Franklin N. Ngwu
Publisher : Routledge
ISBN 13 : 1317353862
Total Pages : 366 pages
Book Rating : 4.3/5 (173 download)
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.
Author :
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)
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:
Author : Sabri Boubaker
Publisher : Springer Science & Business Media
ISBN 13 : 3642449557
Total Pages : 625 pages
Book Rating : 4.6/5 (424 download)
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.
Author : Matthew Tsamenyi
Publisher : Emerald Group Publishing
ISBN 13 : 184855253X
Total Pages : 568 pages
Book Rating : 4.8/5 (485 download)
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.
Author : Sehyun Yoo
Publisher :
ISBN 13 :
Total Pages : 272 pages
Book Rating : 4.:/5 (846 download)
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:
Author : Ruth V. Aguilera
Publisher :
ISBN 13 :
Total Pages : 66 pages
Book Rating : 4.:/5 (13 download)
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.
Author : Mohamed Isa Elghuweel
Publisher :
ISBN 13 :
Total Pages : 424 pages
Book Rating : 4.:/5 (915 download)
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:
Author : Omar Al Farooque
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783838397580
Total Pages : 348 pages
Book Rating : 4.3/5 (975 download)
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.
Author : Michael S. Gibson
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (129 download)
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.
Author : Peter K. Cornelius
Publisher : Oxford University Press
ISBN 13 : 0198037341
Total Pages : 527 pages
Book Rating : 4.1/5 (98 download)
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 2003-08-07 with total page 527 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.
Author : Diego C. Cueto
Publisher :
ISBN 13 : 9780494634448
Total Pages : 0 pages
Book Rating : 4.6/5 (344 download)
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.
Author : Siti Nuryanah
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783846597330
Total Pages : 196 pages
Book Rating : 4.5/5 (973 download)
Download or read book Corporate Governance in an Emerging Market written by Siti Nuryanah and published by LAP Lambert Academic Publishing. This book was released on 2011-11 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: How corporate governance has developed in the emerging markets in the past 10 years raises issues pertaining to corporate governance in developing countries, and addresses the ongoing debate about the links between corporate governance practices and corporate performance. This book, based on research in one of the emerging markets, is intended as a resource to students of governance and an informative text for those practicing governance in developing countries. The chapters are oriented to providing readers with an in-depth understanding of governance principles. It addresses the questions: What is corporate governance? How has it developed? What are the particular characteristics of governance practices in an emerging market? Does it really improve performance? The conclusions are illustrated by research from Indonesia. The authors hope that it will enable investors and directors of companies to understand the uniqueness of the emerging market's environment, take advantage of the opportunities offered by good governance practices and provide guidance on what steps can be taken by the government, regulators and company directors to improve governance in their enterprises.
Author : Cally Jordan
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (129 download)
Download or read book Corporate Governance and Emerging Markets written by Cally Jordan and published by . This book was released on 2008 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although it may be too early to pronounce on the relative effectiveness of various capital market-driven corporate governance initiatives, experiences in emerging markets over the last decade, especially Latin America, lead to some preliminary conclusions. These observations may have some predictive value in gauging the potential effectiveness of any particular initiative. quot;Voluntaryquot; codes and procedural remedies drawn from Anglo-American law, for example, may not be the most effective means of channeling market forces to the improvement of corporate governance in continental European-style legal systems. These transplants may behave a little differently than expected; at worst, they may have somewhat perverse consequences, where an internationally recognized, but domestically ineffective, rule is introduced into a system. The Latin American cases studied are instructive in this regard, as governance mechanisms were introduced in multiple guises along a continuum of private and public rules, amplifying the prospects of effectiveness.
Author : Tih Koon Tan
Publisher :
ISBN 13 :
Total Pages : 83 pages
Book Rating : 4.:/5 (669 download)
Download or read book Essays on Corporate Governance written by Tih Koon Tan and published by . This book was released on 2010 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation is composed by two essays that explore corporate governance issues in S & P firms. The first essay examines changes in corporate governance after a firm gets added to the S & P 500 index? Using firms added from 1994 to 2007, this paper examines how governance mechanisms change for these firms. Specifically, I look at both the overall governance and details on how each mechanism changes. I find that governance improves after being added to the index. Controlling for firm size, leverage, prior firm performance, and growth opportunities, the market reacts positively to governance improvements as a whole. In addition, changes in governance are positively associated with changes in operating performance. In the second essay, the departure of a CEO often raises questions about who will replace him/her. This study examines the homogeneity/heterogeneity nature of the internal labor market using a novel measure, a heterogeneity index, which captures the concentration of executive compensation levels. I find that a more homogeneous internal labor market is associated with (1) a greater likelihood of an internal replacement, (2) a higher probability of a CEO turnover, and (3) a bigger tournament prize. In addition, the negative performance-turnover relationship is strengthened by a more homogeneous internal labor market. The heterogeneity index seems to proxy for internal labor market competition.
Author : Donald H. Chew
Publisher : Columbia University Press
ISBN 13 : 0231519974
Total Pages : 393 pages
Book Rating : 4.2/5 (315 download)
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.
