The Diffusion Of Corporate Governance To Emerging Markets
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The Diffusion Of Corporate Governance To Emerging Markets
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Author : Woochan Kim
language : en
Publisher:
Release Date : 2015
The Diffusion Of Corporate Governance To Emerging Markets written by Woochan Kim and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
This paper investigates whether foreign institutional investors in emerging markets can enhance shareholder value. We pay special attention to two dimensions of investor heterogeneity: whether an investor declares itself as an activist, and whether an investor comes from a country with a strong tradition of investor activism. First, we apply an event study approach to the announcements of block purchases by foreign institutional investors in Korea. We find that stock prices rise on average, but only when foreign institutional investors declare themselves as activists. Source country identities also matter: The positive stock price reactions are more pronounced when the activist investors come from source countries with a strong tradition of investor activism. Second, we examine corporate financial policies and governance practices of target firms one to three years following block purchases by foreign activist investors. We find that target firms are more likely to reduce cash holdings, raise leverage ratios, and peg dividend payouts and stock repurchases more closely to changes in earnings, but only if foreign activists are from countries with a strong tradition of activism. We conclude that openness to foreign activist investors, especially those from countries with a strong tradition of activism, can indeed put pressures on firms in emerging markets to adopt corporate governance practices that enhance shareholder values.
Corporate Governance In Emerging Markets
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Author : Sabri Boubaker
language : en
Publisher: Springer Science & Business Media
Release Date : 2014-04-01
Corporate Governance In Emerging Markets written by Sabri Boubaker and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-04-01 with Business & Economics categories.
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.
State On Board
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Author : Nga Pham
language : en
Publisher: Springer Nature
Release Date : 2021-09-01
State On Board written by Nga Pham and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-01 with Political Science categories.
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.
Corporate Governance In Developing And Emerging Markets
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Author : Franklin N. Ngwu
language : en
Publisher: Routledge
Release Date : 2016-12-08
Corporate Governance In Developing And Emerging Markets written by Franklin N. Ngwu and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-12-08 with Business & Economics categories.
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.
Corporate Governance And Capital Flows In A Global Economy
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Author : Peter Cornelius
language : en
Publisher: Oxford University Press, USA
Release Date : 2003
Corporate Governance And Capital Flows In A Global Economy written by Peter Cornelius and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.
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, the book is for anyone interested in financial crises, international risk management and global competitiveness.
Corporate Governance In Emerging Markets
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Author :
language : en
Publisher:
Release Date :
Corporate Governance In Emerging Markets written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
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.
Corporate Governance In Less Developed And Emerging Economies
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Author : Matthew Tsamenyi
language : en
Publisher: Emerald Group Publishing
Release Date : 2008-12-01
Corporate Governance In Less Developed And Emerging Economies written by Matthew Tsamenyi 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 2008-12-01 with Business & Economics categories.
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.
Corporate Governance In Emerging Markets
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Author : Melsa Ararat
language : en
Publisher:
Release Date : 2011
Corporate Governance In Emerging Markets written by Melsa Ararat and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Electronic book categories.
Corporate Governance
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Author : Omar Al Farooque
language : en
Publisher: LAP Lambert Academic Publishing
Release Date : 2010
Corporate Governance written by Omar Al Farooque and has been published by LAP Lambert Academic Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Capital market categories.
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.