منابع مشابه
Corporate Governance in Emerging Economies
Most of the literature on corporate governance emphasizes that firms should be run in the interests of shareholders. This is an appropriate objective function when markets are perfect and complete. In many emerging economies this is not the case: markets are imperfect and incomplete. The first theme of the paper is that alternative firm objective functions, such as pursuing the interests of all...
متن کاملCorporate governance in transition economies
The transition economies in Central and Eastern Europe have privatized their economies at an unprecendented speed in the 1990s. The expectation was that under private ownership, formerly state-owned firms would act as dynamic, profit-oriented players driving economic restructuring and growth. Yet, the expectation has rarely been fulfilled, and lack of effective corporate governance is often see...
متن کاملReview Paper Corporate Governance in Emerging Economies: A Review of the Principal–Principal Perspective
Instead of traditional principal–agent conflicts espoused in most research dealing with developed economies, principal–principal conflicts have been identified as a major concern of corporate governance in emerging economies. Principal–principal conflicts between controlling shareholders and minority shareholders result from concentrated ownership, extensive family ownership and control, busine...
متن کاملIs Corporate Governance Ineffective in Emerging Markets?
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. 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. ...
متن کاملCorporate Governance, Corporate Finance and Stock Markets in Emerging Countries
This paper focuses on the inter-relationship between corporate governance, financing of corporate growth and stock market development in emerging countries. It explores both theoretically and empirically the nature of the interrelationships between these phenomena, as well as their implications for economic policy. It concentrates on how corporate growth is financed, an area where the literatur...
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ژورنال
عنوان ژورنال: Oxford Review of Economic Policy
سال: 2005
ISSN: 0266-903X,1460-2121
DOI: 10.1093/oxrep/gri010