Emerging Market Business Groups Foreign Investors And Corporate Governance
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Emerging Market Business Groups Foreign Investors And Corporate Governance
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Author : Krishna G. Palepu
language : en
Publisher:
Release Date : 1998
Emerging Market Business Groups Foreign Investors And Corporate Governance written by Krishna G. Palepu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with categories.
We examine the interaction between three kinds of concentrated owners commonly found in an emerging market: family-run business groups, domestic financial institutions, and foreign financial institutions. Using data from India in the early 1990s, we find evidence that domestic institutional investors are poor monitors, and that foreign institutional investors are good monitors. Whereas affiliates of those groups that attract foreign institutional investment are no more difficult to monitor than are unaffiliated firms, we find that group affiliation reduces the likelihood of foreign institutional investment. More transparent groups (where greater transparency is proxied for by a lower incidence of intra-group financial transactions) are more likely to attract such investment. We conclude that groups are difficult to monitor, and that foreign institutional investors serve a valuable monitoring function as emerging markets integrate with the global economy.
Emerging Market Business Groups Foreign Investors And Corporate Governance
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Author : Tarun Khanna
language : en
Publisher:
Release Date : 2010
Emerging Market Business Groups Foreign Investors And Corporate Governance written by Tarun Khanna and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
We examine the interaction between three kinds of concentrated owners commonly found in an emerging market: family-run business groups, domestic financial institutions, and foreign financial institutions. Using data from India in the early 1990s, we find evidence that domestic international investors are poor monitors, and that foreign institutional investors are good monitors. Whereas affiliates of those groups that attract foreign institutional investment are no more difficult to monitor than are unaffiliated firms, we find that group affiliation reduces the likelihood of foreign institutional investment. More transparent groups (where greater transparency is proxied for by a lower incidence of intra-group financial transactions) are more likely to attract such investment. We conclude that groups are difficult to monitor, and that foreign institutional investors serve a valuable monitoring function as emerging markets integrate with the global economy.
Emerging Market Business Groups Foreign Investors Corporate Governance
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Author : Tarun Khanna
language : es
Publisher:
Release Date : 1999
Emerging Market Business Groups Foreign Investors Corporate Governance written by Tarun Khanna and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
An Empirical Study Of Soe Corporate Governance Attributes For Emerging Markets
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Author : Giang Hoang
language : en
Publisher: Springer Nature
Release Date : 2023-04-29
An Empirical Study Of Soe Corporate Governance Attributes For Emerging Markets written by Giang Hoang and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-04-29 with Business & Economics categories.
This book investigates the institutional characteristics of state-linked firms in Vietnam to draw lessons for investors/MNCs targeting Vietnam and other emerging markets in the region. Vietnam and many other ASEAN countries have gone through a period of privatization and equitization of wholly controlled SOEs, with the State retaining partial ownership in many privatized businesses. This book explains the dynamic relationships between the State, BODs, shareholders, and regulators and their influence on corporate governance and SOE performance. This book differs from other publications in that it extrapolates the findings from our study to a broader context on how the defined internal mechanisms implicate the local economy and global supply chains/markets. This book investigates robust theoretical foundations, and rigorous applied empirical research underpin the role of the State in SOEs. It differs from other studies in terms of qualitative and empirical research to provide the contextual setting to elucidate how to successfully navigate emerging market business with the State as an "owner-participant." This book explains the theoretical constructs of corporate governance in SOEs, applies empirical research methodologies, and draws results to validate inferences to (1) investigate the link between the board of directors and ownership attributes and agency cost levels using Vietnamese listed firms for the period from 2006 to 2013, (2) evaluate the effectiveness of State's corporate initiatives and monitoring through its sovereign wealth fund known as the State Capital Investment Corporation (SCIC), and (3) infer and explain the motivation of the State as a shareholder. This book takes cognizance of Vietnam's idiosyncratic institutional (using its sovereign wealth fund as an investment vehicle and management proxy), economic, regulatory, and corporate environments and the realities for developing an effective and sustainable business model, vis-à-vis the ownership structure, board of directors' composition and corporate governance, for better business performance. While the focus is on Vietnam, the content is also relevant to the role of the State in other emerging markets as a player in shaping the business strategy, model, and direction of SOEs.
Essays On Corporate Governance In Emerging Markets
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Author : Sudarat Bo Ananchotikul
language : en
Publisher:
Release Date : 2007
Essays On Corporate Governance In Emerging Markets written by Sudarat Bo Ananchotikul and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
Emerging Market Firms In The Global Economy
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Author : Chinmay Pattnaik
language : en
Publisher: Emerald Group Publishing
Release Date : 2014-11-07
Emerging Market Firms In The Global Economy written by Chinmay Pattnaik and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-11-07 with Business & Economics categories.
The adoption of pro-market economic reforms by emerging market economies in last two decades has transformed the institutional context for firms in these economies. The objective of this volume is to better understand how domestic and foreign firms have transformed their strategy, organization and management system in response to this change.
Asian Business Groups
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Author : Michael Carney
language : en
Publisher: Elsevier
Release Date : 2008-06-30
Asian Business Groups written by Michael Carney and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-06-30 with Business & Economics categories.
The Asian economic landscape is dominated by various types of business group. Asian Business Groups provides a comprehensive review and introduction to the different types of business group. The origins and founding context of groups from particular national settings form the basic structure of the book. Emphasis is given to both the similarities and differences in group governance and performance and the implications for Asian international competitiveness are addressed. Multidisciplinary framework that integrates managerial, sociological, and economic perspectives on business groups and permits analysis of both their positive and negative aspects Comprehensive survey of empirical findings on the financial and market performance Sensitivity to the changing historical context and major events that have shaped business group development and dynamics
The Oxford Handbook Of Management In Emerging Markets
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Author : Dr. Robert Grosse
language : en
Publisher: Oxford University Press
Release Date : 2019-01-08
The Oxford Handbook Of Management In Emerging Markets written by Dr. Robert Grosse and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-08 with Business & Economics categories.
For nearly two decades, emerging markets have been a primary source of growth in the world economy. They have become more international and compete more extensively with companies in developed countries. For these reasons, an understanding of managing businesses in emerging markets is a fundamental skill for competing in the twenty-first century. The Oxford Handbook of Management in Emerging Markets identifies key elements of the business systems and competition in emerging markets around the world, and then looks at competitive strategies of companies going into and coming out of these countries. While business is business, the handbook's focus is on how management differs depending on the different environmental characteristics in emerging markets, such as the role of the government, the potential weakness of infrastructure, and the skill and innovation bases available locally in emerging markets, among other elements. The volume is organized into five sections. The first section establishes conceptual perspectives for exploring the current business environment in emerging markets. The second section focuses on questions surrounding governance and markets. The third explores multinational enterprises (MNEs) in emerging economies, while the fourth section looks at local firms and emerging market MNEs. The fifth and final section looks at management in emerging markets within specific countries and regions around the world. This handbook is a vital resource for scholars, students, and managers looking to expand into emerging economies by providing comprehensive analyses of functional areas from human resources to finance to marketing, and on issues such as family businesses, state-owned enterprises, and the bottom of the pyramid.
The Rise Of Transnational Corporations From Emerging Markets
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Author : Karl P. Sauvant
language : en
Publisher: Edward Elgar Publishing
Release Date : 2009-01-01
The Rise Of Transnational Corporations From Emerging Markets written by Karl P. Sauvant and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-01 with Business & Economics categories.
Having undertaken billions of FDI in many continents and nations, between Argentina and the PRC, I consider Dr Sauvant s book an eye-opener, a new page, showing us a new super highway. The OFDI volume of emerging markets today, surpassing the entire FDI volume of not even 20 years back, is a signal of success of the free market economy. It signals also the end of privileges for the Europeans. It reflects entrepreneurship at its best on the part of the fast developing nations of Asia. It shows that free access to know how and capital has permitted Asia to catch up at an unprecedented speed. Contrary to often repeated but wrong opinions, the poor of the world have benefited the most by globalization. A market place of unimaginable potential is under construction in the first half of the 21st century, accelerated by FDI. This book should find many readers, particularly among the political leaders of today and tomorrow. Carl H. Hahn, Chairman Emeritus of Volkswagen AG This comprehensive analysis deals with the range of issues raised by the rise of transnational corporations from emerging markets. This insightful book shows that foreign direct investment (FDI) from emerging markets has grown from negligible amounts in the early 1980s to $210 billion in 2007, with the stock of investment now being well over $1 trillion. This reflects the rise of firms from these economies to become important players in the world FDI market. The contributors to this book comprehensively analyze the rise of emerging market TNCs, the salient features of the transnational activities of these firms, the relationship of outward FDI and the competitiveness of the firms involved, their impact on host and home countries and implications for the international law and policy system. The subject of this study is both topical and important and poses a number of challenges that will require considerable policy attention in the future. It will appeal to academics interested in FDI as well as emerging markets. Karl P. Sauvant has gathered together a group of leading academics that makes this an informative and valuable read for anyone interested in the subject, including academics, students at all levels and private sector entities, as well as government officials dealing with outward FDI.
Emerging Economies And The Transformation Of International Business
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Author : Subhash C. Jain
language : en
Publisher: Edward Elgar Publishing
Release Date : 2006
Emerging Economies And The Transformation Of International Business written by Subhash C. Jain and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.
The economic power of Brazil, Russia, India and China (BRICs) is rapidly increasing, changing the landscape of global economics and politics. Top scholars of international business address in this vital volume the markets, strategy implications, challenges and possibilities of this new economic reality. As these four nations acquire greater economic clout, the opportunities for other countries increase. The contributors describe the favorable circumstances these evolving economies could provide for the US and other countries, such as expanded markets and services, higher returns on investments, and new partners in building a more peaceful and prosperous world. In contrast, they also discuss risks to traditional industries and possible challenges to positions on human rights and intellectual property protections, environmental standards, free markets and democratic governments. The volume emphasizes the need for companies to adopt strategies to stay ahead in the changing business environment. Governments must also design and implement new policies geared toward mutually beneficial relationships with BRICs. This enlightening study will be of great interest to students and scholars of international business. Executives of large companies will find it of great practical use when planning their organization s future strategies.