An Empirical Study Of Soe Corporate Governance Attributes For Emerging Markets

Author : Giang Hoang,Kok Boon Oh
Publisher : Springer Nature
Page : 257 pages
File Size : 43,9 Mb
Release : 2023-04-29
Category : Business & Economics
ISBN : 9789819915057

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An Empirical Study of SOE Corporate Governance Attributes for Emerging Markets by Giang Hoang,Kok Boon Oh Pdf

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.

Author : Nga Pham,Kok-Boon Oh
Publisher : Springer Nature
Page : 270 pages
File Size : 40,9 Mb
Release : 2021-09-01
Category : Political Science
ISBN : 9789811635250

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State on Board! by Nga Pham,Kok-Boon Oh Pdf

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 : Sabri Boubaker,Duc Khuong Nguyen
Publisher : Springer Science & Business Media
Page : 610 pages
File Size : 45,8 Mb
Release : 2014-04-01
Category : Business & Economics
ISBN : 9783642449550

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Corporate Governance in Emerging Markets by Sabri Boubaker,Duc Khuong Nguyen Pdf

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 : Maria Vagliasindi
Publisher : World Bank Publications
Page : 32 pages
File Size : 55,8 Mb
Release : 2012
Category : Electronic
ISBN : 8210379456XXX

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The Effectiveness of Boards of Directors of State Owned Enterprises in Developing Countries by Maria Vagliasindi Pdf

This paper aims to shed some new light on the conditions needed to ensure the effectiveness of Boards of Directors of state owned enterprises with a focus on infrastructure sectors. In the case of developing countries, empirical studies have found evidence of positive links between the composition of the Board of Directors and financial performance. Yet the lack of solid theoretical foundations, and in some cases poor data availability, makes the conclusions of most studies weak. Several policy recommendations emerge from the review of the economic literature and evidence from case studies. First, the introduction of a sufficient number of independent directors emerges as an important corporate governance milestone. Empowering them to exercise effective monitoring of management, however, may prove to be a formidable challenge for of state owned enterprises. More attention to board procedures, particularly related to the Board selection and evaluation process, is essential, to produce the necessary insulation of Boards from government interference. Ensuring sufficient continuity of services to directors is particularly crucial to improve corporate governance. In addition, other factors that may reduce directors' ability to monitor corporate activities, such as the age profile and the number of Boards on which they sit, need to be handled more carefully.

Author : Boubaker Sabri,Nguyen Duc Khuong
Publisher : World Scientific
Page : 612 pages
File Size : 45,8 Mb
Release : 2014-09-26
Category : Business & Economics
ISBN : 9789814520393

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Corporate Governance And Corporate Social Responsibility: Emerging Markets Focus by Boubaker Sabri,Nguyen Duc Khuong Pdf

While emerging market economies do not have a mature market structure yet, there is a need for research on corporate governance practices in these economies from different perspectives, including corporate social responsibility. Corporate Governance and Corporate Social Responsibility: Emerging Markets Focus fills the gap with a collection of high-quality research and policy-based papers addressing these issues, using various market cases as illustrations.Unlike previous books that often focused on one or several emerging markets, this book covers a much broader set of countries and tackles ethical, legal and societal aspects of corporate governance, beyond financial issues. It also discusses how companies work towards best corporate governance practices, particularly, in the aftermath of recent financial and economic crises. Readers will benefit from the wide range of theoretical, empirical, and case analyses, selected with care to reflect cutting-edge corporate governance and corporate social responsibility issues in countries with emerging markets.

Author : OECD
Publisher : OECD Publishing
Page : 268 pages
File Size : 41,9 Mb
Release : 2006-01-30
Category : Electronic
ISBN : 9789264035744

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Corporate Governance of Non-Listed Companies in Emerging Markets by OECD Pdf

This publication provides policy makers, board members, managers, equity providers, creditors and other stakeholders an overview of the issues to be addressed in establishing good corporate governance of non-listed companies.

Author : Anonim
Publisher : Unknown
Page : 0 pages
File Size : 54,9 Mb
Release : 2024-06-03
Category : Electronic
ISBN : OCLC:1403414270

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Corporate governance in emerging markets by Anonim Pdf

Author : Matthew Tsamenyi,Shazad Uddin
Publisher : Emerald Group Publishing
Page : 565 pages
File Size : 45,6 Mb
Release : 2008-12-01
Category : Business & Economics
ISBN : 9781848552524

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Corporate Governance in Less Developed and Emerging Economies by Matthew Tsamenyi,Shazad Uddin Pdf

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 : World Bank Publications
Publisher : World Bank Publications
Page : 388 pages
File Size : 45,7 Mb
Release : 2014-10-02
Category : Business & Economics
ISBN : 9781464802294

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Corporate Governance of State-Owned Enterprises by World Bank Publications Pdf

This Toolkit provides an overall framework with practical tools and information to help policymakers design and implement corporate governance reforms for state-owned enterprises. It concludes with guidance on managing the reform process, in particular how to prioritize and sequence reforms, build capacity, and engage with stakeholders.

Author : Maria Vagliasindi
Publisher : Unknown
Page : 32 pages
File Size : 50,7 Mb
Release : 2016
Category : Electronic
ISBN : OCLC:1290703013

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The Effectiveness of Boards of Directors of State Owned Enterprises in Developing Countries by Maria Vagliasindi Pdf

This paper aims to shed some new light on the conditions needed to ensure the effectiveness of Boards of Directors of state owned enterprises with a focus on infrastructure sectors. In the case of developing countries, empirical studies have found evidence of positive links between the composition of the Board of Directors and financial performance. Yet the lack of solid theoretical foundations, and in some cases poor data availability, makes the conclusions of most studies weak. Several policy recommendations emerge from the review of the economic literature and evidence from case studies. First, the introduction of a sufficient number of independent directors emerges as an important corporate governance milestone. Empowering them to exercise effective monitoring of management, however, may prove to be a formidable challenge for of state owned enterprises. More attention to board procedures, particularly related to the Board selection and evaluation process, is essential, to produce the necessary insulation of Boards from government interference. Ensuring sufficient continuity of services to directors is particularly crucial to improve corporate governance. In addition, other factors that may reduce directors' ability to monitor corporate activities, such as the age profile and the number of Boards on which they sit, need to be handled more carefully.

Author : Franklin N. Ngwu,Onyeka Osuji,Chris Ogbechie,David Williamson
Publisher : Routledge
Page : 340 pages
File Size : 44,8 Mb
Release : 2019-03-07
Category : Business & Economics
ISBN : 9781351689052

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Enhancing Board Effectiveness by Franklin N. Ngwu,Onyeka Osuji,Chris Ogbechie,David Williamson Pdf

Enhancing Board Effectiveness seeks to examine the conceptualization and role of the board in a variety of contexts and articulate solutions for improving the effectiveness of the board, especially in developing and emerging markets. Enhancing Board Effectiveness with therefore address the following central questions: To what extent is the concept and role of the board evolving? What rights, powers, responsibilities and other contemporary and historical experiences can enhance the effectiveness of the board, especially in the particular contexts of developing and emerging markets? What socio-economic, political, regulatory and institutional factors/actors influence the effectiveness of the board and how can the policies and practices of such actors exert such influences? In what ways can a reconstructed concept of the board serve as a tool for theoretical, analytical, regulatory and pragmatic assessment of its effectiveness? In examining this issues, Enhancing Board Effectiveness will investigate theoretical, socio-economic, historical, empirical, regulatory, comparative and inter-disciplinary approaches. Academics in the relevant fields of accounting, behavioural psychology/economics, development studies, financial regulation, law and management/organizational studies, political economy and, public administration will find this book of high interest.

Author : OECD
Publisher : OECD Publishing
Page : 232 pages
File Size : 45,7 Mb
Release : 2005-12-16
Category : Electronic
ISBN : 9789264009431

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Corporate Governance of State-Owned Enterprises A Survey of OECD Countries by OECD Pdf

Presents the OECD Guidelines on Corporate Governance of State-Owned Enterprises as well as a comparative overview of main practices and issues related to corporate governance of state-owned enterprises in the OECD area.

Author : Sabri Boubaker,Bang Dang Nguyen,Duc Khuong Nguyen
Publisher : Springer Science & Business Media
Page : 445 pages
File Size : 44,6 Mb
Release : 2012-12-18
Category : Business & Economics
ISBN : 9783642315794

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Corporate Governance by Sabri Boubaker,Bang Dang Nguyen,Duc Khuong Nguyen Pdf

The current crisis has rocked the financial system worldwide and has cast doubt on the effectiveness of the existing regulatory regime. Thousands of firms have gone bankrupt and many financial institutions were bailed out by governments. The effects of the crisis have shaken emerging and developing markets alike and have not spared neither small nor large businesses. Many scholars and practitioners attribute the roots of the crisis to failures and weaknesses in the way corporate governance has been practiced since the mid-1990s. Lax board oversight of top management, short-termism and self-interested behavior have been fingered as the culprits behind recent financial turmoil. This book highlights the recent developments and new trends in corporate governance. The eighteen chapters, written by leading academics and experts, can assist corporate executives, governance bodies, investors, market regulators, and policymakers in having a global picture of major corporate governance issues. This book highlights the recent developments and new trends in corporate governance. The eighteen chapters, written by leading academics and experts, can assist corporate executives, governance bodies, investors, market regulators, and policymakers in having a global picture of major corporate governance issues.

Author : J.S. Hendriks-Gusc
Publisher : BRILL
Page : 205 pages
File Size : 48,5 Mb
Release : 2023-08-28
Category : Business & Economics
ISBN : 9789086866199

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Headquarters-subsidiary relationship governance in emerging markets of Central Eastern Europe by J.S. Hendriks-Gusc Pdf

"Multinational enterprises often seem to be on a 'roller coaster' when managing their operations in transition economies, especially because of the volatile business and political environment. By combining agency and stewardship theory, this book describes the subtle equilibrium between formal control and day-to-day coordination in the Headquarters-Subsidiary (HQ-S) governance relationship. Using the Polish situation as an example, it places HQ-S governance in the context of a transitional economy while taking the cultural differences between the headquarters and subsidiary country into account. This explorative empirical study shows that the use of strategic and operational control mechanisms work as a transparent ‘platform’ on which coordination and attuning mechanisms can be build to deal with the day-to-day management challenges in a transition economy. Creating flexibility and learning capabilities at the subsidiary level, rather than maintaining a subsidiary in a state of dependence can clearly contribute to the success of international operations. However, it also reveals that there is no simple and uniform recipe for managing subsidiaries. The road from governance to performance is not a one-way street and alternative routes are available to accelerate performance. This book is a valuable resource to all directors and managers of multinational enterprises, as well as academic researchers who concern themselves with the study of multinational enterprises in transition economies."

Author : B. B. Yurtoglu
Publisher : Unknown
Page : 256 pages
File Size : 41,6 Mb
Release : 2024-06-03
Category : Electronic
ISBN : 0857931555

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Corporate Governance in Emerging Markets by B. B. Yurtoglu Pdf